The Ethereum Prize has decreased sharply in recent months. Under -performance compared to Bitcoin (BTC) and Solana (sol). Despite his lack of willingness to experience a significant price increase Potential recovery at 4,000 US dollars Before the end of the bull cycle.
Ethereum price is expected to achieve 4,000 US dollars
The crypto analyst astronomer has announced its Bullisum on the Ethereum price viewPrediction of a potential rally on 4,000 US dollars. In a fairly long post On X (formerly Twitter), the analyst emphasizes several technical signals that indicate that the ETH could soon rethink this key price target.
Remarkably, the ETH Prize is positioned in a clear position Support zone Between 1,700 and 1,900 US dollars. Historically, this range has acted as a start pad for restoration, with the earlier decline in this area A Strong price boost.
While Ethereum has made itself below average Against Solana during this bull market, it has still doubled since it was low in 2022, which is a better result than most old coins. The astronomer continued to underline his optimistic attitude towards ETH and revealed that he had exchanged BTC for ETH, and held a strong conviction that the latter would finally surpass the former at the end of the cycle.
Based on the table of the analyst, ETH currently acts between 1,700 and $ 4,500 within a long -term macro prize. The cryptocurrency recently falsified the soil of this range, which historically led to a jump at a price of over 4,000 US dollars.
Astronomer also notes that Bitcoin is already low weekly, which means that Ethereum’s price movements could soon match the recovery of the Pioneer Cryptocurrency. If the ETH can recover the level of $ 2,100, the analyst predicts a quick step towards 4,000 US dollars in a few months.
With the next The Federal Reserve monetary policy The market for mid-April may be a new Bullish dynamics that the price course of Ethereum benefits. Another important development that supports the analysts Bullic projection for Ethereum Is his performance in March 2024. At that time, the Altcoin has an earlier price, but has not maintained a breakout, which led to a longer correction.
However, the astronomer suggested that this price trend insisted to rethink 4,000 US dollars, especially after Ethereum has reached a range low. The analyst notes that the ETH is now deeper on this critical Below is insignals a potential step to new heights.
ETH market mood hits the low point
The astronomer shared his optimistic forecast for the ETH price in this bull cycle that Ethereum A is faced Heavy Bärische feeling Because of its longer underperformance. According to the analyst, Ethereum’s current market feelings are worse than that of Bitcoin, whereby negative stories dominate the discussions in the crypto community.
Some claim that ETH lacks a proper application, while others suggest that the Ethereum Foundation can sell. Nevertheless, historical data show that the cryptocurrency, when ETH achieved similar low levels at the end of 2017 and 2021, experienced a subsequent rally to new ATHs. Show the latest sentiment score shows Ethereum has reached the low point With 14, extreme fear and uncertainty, which is often preceded by the most important price impact.
Selected picture of Adobe Stock, diagram of tradingview.com
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