Ethereum price has been in a sharp decline in recent months, Underperformance compared to bitcoin (BTC) and Solaana (sun). In spite of its unwillingness to experience a significant price increase, a crypto analyst has revealed his hausse for ETH and predicts a Potential recovery to $ 4,000 before the end of the bull bike.
Ethereum price estimated to reach $ 4,000
Crypto -analyst astronomer has announced his hausse on Ethereum Price Outlookpredict a potential rally to $ 4,000. In a rather tall post At X (formerly Twitter), analysts highlight several technical signals that suggest that ETH could soon review this important price target.
Noteworthy is the ETH price placed Support zone between $ 1,700 and $ 1,900 interval. Historically, this range has served as a starting plate for recovery, with previous declines to this area that triggers a Strong price increase.
While Ethereum has underperformed Against Solana during this bull market, it has still doubled since 2022 low, which is a better result than most altcoins. Furthermore, his haisse emphasized ETH, the astronomer revealed that he had changed BTC for ETH and had a strong conviction that the latter will eventually surpass the former at the end of the bike.
Based on the analyst’s diagram, ETH currently deals with a long -term macroprice between $ 1,700 and $ 4,500. Cryptocurrency recently tested the bottom of this range, which historically led to a bounce back at a price high over $ 4,000.
The astronomer also notes that Bitcoin has already set its low weekly, which means that Ethereum’s price movements could soon adapt to Pioneer Cryptocurrency recovery. If ETH can recover the level of $ 2,100, analysts predict a quick step towards $ 4,000 in a few months.
With the next one Federal Reserve Penary Policy The market is scheduled for mid -April and can see renewed hausseartat momentum that could benefit Ethereum’s price track. Another major development that supports the analyst Bullish Projection for Ethereum is its performance in March 2024. At that time, Altcoin swept an earlier price high but did not maintain an outbreak, which led to a long -term correction.
However, the astronomer suggested that this prisons insist on looking over $ 4,000, especially after Ethereum hits a low interval. The analyst notes that ETH is now on this critical low, which may indicate that The bottom is inSignals a potential transition to new heights.
ETH Market Sentiment hits Rock Bottom
While sharing his Haussearted forecast for ETH’s price during this bull bike, the astronomer also revealed that Ethereum is facing a Heavy Baisse because of its long -standing under performance. According to the analyst, Ethereum’s current market term is worse than Bitcoin, with negative stories that dominate discussions over the crypto community.
Some claim that ETH lacks a correct use case, while others suggest that Ethereum Foundation can sell. Despite this, historical data shows that when ETH hit similar low levels at the end of 2017 and 2021, Cryptocurrency experienced a subsequent rally to new ATHS. The latest sentiment score show shows Ethereum has met the rock bottom At 14 years, extreme fear and uncertainty signal, which often precedes great price.
Trained Image from Adobe Stock, charts from tradingview.com
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