NEWSLETTER
The price of ethereum has been in a strong decrease in recent months, Low performance compared to bitcoin (btc) and Solana (Sol). Despite his lack of will to experience a significant increase in prices, a cryptographic analyst has revealed his optimism for eth, predicting a Potential recovery at $ 4,000 Before the end of the bull cycle.
The projected ethereum price to reach $ 4,000
Astronomer cryptographic analyst has announced his optimism in the ethereum price perspectivepredicting a possible rally at $ 4,000. In a quite long <a target="_blank" href="https://x.com/astronomer_zero/status/1905054399149514817?s=46″ rel=”nofollow” target=”_blank”>mail In x (previously twitter), the analyst highlights several technical signals that suggest that eth could soon visit this key price.
In particular, the price of eth positions a clear<a target="_blank" href="https://www.newsbtc.com/news/ethereum/analyst-reveals-key-ethereum-support-zone-amid-4000-price-struggle/amp/” target=”_blank” rel=”noopener nofollow”> Support area Between $ 1,700 and $ 1,900. Historically, this range has acted as a launch platform for recovering, with decreases prior to this area that triggers a Strong price increase.
While ethereum has had a lower performance Against Solana during this upward market, it has still doubled since its minimum of 2022, which is a better result than most alternatives. In addition, highlighting his upstarting posture about eth, Astronomer revealed that he had changed to btc by eth, holding a strong conviction that the latter will finally exceed the first at the end of the cycle.
Based on the analyst table, eth is currently quoted within a long -term macro price that a range of $ 1,700 and $ 4,500. The cryptocurrency recently tested the lower part of this range, which historically led to a rebound towards a price greater than $ 4,000.
Astronomer also points out that bitcoin has already established his weekly bass, which means that ethereum price movements could soon align with the recovery of the pioneer cryptocurrency. If eth can recover the level of $ 2,100, the analyst predicts a rapid movement towards $ 4,000 in a few months.
With the next Federal Reserve Monetary Policy Scheduled for mid -April, the market can see a renewed renewed impulse that could benefit ethereum's price trajectory. Another important development that the analyst supports Alcista projection for ethereum It is his performance in March 2024. At that time, the Altcoin swept a previous price, but did not maintain a break, which led to prolonged correction.
However, Astronomer suggested that this price trend insists on visiting $ 4,000 again, particularly after ethereum reaches a low range. The analyst points out that eth is now in this minimum critic, which could indicate that the The background is inpointing to a potential movement to new maximums.
The feeling of the eth market reaches the bottom of the rock
By sharing its bullish forecast for the price of eth during this Toro cycle, Astronomer also revealed that ethereum faces a <a target="_blank" href="https://www.newsbtc.com/ethereum-news/ethereum-sentiment-dips-among-retail-investors-yet-a-breakout-looms/amp/” target=”_blank” rel=”noopener nofollow”>Heavy and bassist feeling due to its prolonged low performance. According to the analyst, the current feeling of the ethereum market is worse than that of bitcoin, with negative narratives that dominate discussions throughout the cryptographic community.
Some claim that eth lacks an adequate case, while others suggest that the ethereum Foundation It may be selling. Despite this, historical data shows that when eth reached low levels similar to the end of 2017 and 2021, the cryptocurrency experienced a subsequent concentration of New ATHS. The last feeling score show ethereum has reached the bottom of the rock At age 14, pointing out extreme fear and uncertainty, which often precedes the greatest price rebounds.
Outstanding image of Adobe Stock, TrainingView.com box
Editorial process For Bitcoinist, he focuses on the delivery of content completely investigated, precise and impartial. We maintain strict supply standards, and each page undergoes a diligent review of our technology experts and experienced editors. This process guarantees the integrity, relevance and value of our content for our readers.
