menu
techminis

A naukri.com initiative

google-web-stories
source image

Newsbtc

2w

read

259

img
dot

Image Credit: Newsbtc

Ethereum Price Crash To $2,100 Triggers Fear, But Why Are Analysts Predicting A Rally To $6,000?

  • Ethereum's price fell to $2,130 in the past 24 hours amid a broader crypto industry decline.
  • Analysts predict a strong Ethereum rally post current downturn with one projecting a $6,000 target.
  • Trader @CryptoWaveV suggests Ethereum completed wave A, expecting a bounce to $2,792 before a potential drop to $1,706.
  • This drop to $1,706 is considered an 'ideal buy zone' for long-term accumulation by the analyst.
  • Analyst Merlijn, following Wyckoff accumulation pattern, foresees Ethereum reaching $6,800 to $7,000 range.
  • The chart projection by Merlijn indicates a steady progression above $3,850 and predicts Ethereum surpassing $4,800 eventually.
  • Both analysts suggest Ethereum's recent dip may have served a larger structural purpose by clearing weak hands.
  • The convergence of projections anticipates Ethereum breaking into the $6,000 range within a six-month to one-year timeframe.
  • Ethereum is currently trading at $2,420, up by 7.4% in the last 24 hours.

Read Full Article

like

15 Likes

For uninterrupted reading, download the app