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ethereum (eth), the second largest cryptocurrency for market capitalization, has experienced one of its most challenging beginnings until the year, registering its second person in the first quarter of its history.
From now on, eth is operating just above the crucial Support level of $ 2,000, which reflects a decrease of the year to date of 43%. This marked contrast is particularly remarkable compared to bitcoin (btc) and XRP, which have seen 23% and surprising 279% profits, respectively, during the same period.
Could a 60% increase in Q2 return to $ 3,200?
The market expert, Lark Davis, has drawn attention to the dramatic recession in the price of ethereum in a recent <a target="_blank" href="https://x.com/TheCryptoLark/status/1904526271217856623″ target=”_blank” rel=”nofollow”>Social Network updatehighlighting a 38% drop in the first quarter of this year for Altcoin.
This figure is alarmingly close to its worst quarterly performance of 46% registered during the first quarter of 2018, as noted in the comparison table shared by Davis.
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After that problematic quarter in 2018, ethereum saw a brief recovery of 15% in the second quarter, only to face more than 40% decrease in later quarters, respectively, which raises concerns for current investors that this pattern It could happen once again in this cycle.
Despite these discouraging figures, Davis raised an interesting question about the potential of a second “explosive” quarter for ethereum. Historically, since 2016, eth has averaged a notable 66% increase during this period.
If this trend continues and the price of ethereum achieved an increase of 60% in the coming months, its price could rise to $ 3,200 per Token, levels not seen since the beginning of February this year.
crypto Expert predicts a 1,100% increase for the price of ethereum
While there are short -term challenges, many analysts retain a long -term upward perspective for ethereum. The cryptographic analyst Merlijn generated parallels between the current market conditions and the past performance of bitcoin, which suggests that ethereum is ready for a similar trajectory.
The analyst <a target="_blank" href="https://x.com/MerlijnTrader/status/1903884457205260735″ target=”_blank” rel=”nofollow”>noted“Accumulation, rupture and recovery load in the form of a V”, which implies that a new Toro race could be on the eth horizon, with forecasts that suggest that it could reach up to $ 24,000 during this cycle, a significant increase of 1,100%.
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However, the path to recovery is not exempt from obstacles. Expert Ali Martínez recently <a target="_blank" href="https://x.com/ali_charts/status/1904633889802641803″ target=”_blank” rel=”nofollow”>outstanding The key levels of resistance that ethereum must exceed for a short -term sustainable rebound.
Martínez said that the price of eth has recovered its price made of $ 2,040, but the next significant challenge is located in the $ 2,300 brand, where strong resistance has been observed for the main alternative.
Despite a recent recovery that saw a 10% increase in the last two weeks, ethereum still faces notable monthly losses, almost 25% after a broader market correction.
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