One crypto analyst said Ether could gain higher upside in the coming weeks in the coming weeks.
“So far, it’s so good for ETH,” MN Trading Capital founder Michaëlvan de Poppe explain In Thursday’s X post.
ETH may see a reversal that the market has been waiting for
Van de Poppe added: “Keep the critical range low and we will likely test the other side of the range in the next few weeks.”
Ether (Ethereth) The transaction price at the time of publication was $2,452, down 7.45% in the past 30 days, according to Used to share market cap data.
ETH was about two weeks ago, and reached about $2,871 on June 11, and then entered a downward trend a day later After Israel launches air strikes In Iran’s financial and cryptocurrency markets.
Historically, the third quarter of each year was the weakest of ether, with an average return of only 0.88% since 2014. according to to Coinglass data.
However, other analysts have also shared Van de Poppe’s bullish view, with crypto commentator cryptocurrency lad pointing to a drop in the ETH/BTC ratio, which tracks Ether’s strength relative to Bitcoin (BTC), as a symbol, that is, Ether may be moving forward.
“It’s almost time to turn it back,” Crypto Fella explain. The ETH/BTC ratio is 0.02275, down 6.84% in the past month, according to Go to TradingView.
The interest of large buyers of Ethereum has not yet attracted attention. Crypto trader Quinten Francois points out Glass Festival data, showing whales purchased 1 million ETH on June 16, Francois Famous It is “the largest daily purchase since 2018”
Retail purchases have also become the third day of inflow to the ETHET ETF on Wednesday, adding $60.4 million on the day to a total of $232.4 million, according to to Farside data.
Related: Ether liquidity is above $2.5k: Will Eth Bulls catch it?
On June 14, Spot Ether ETFS released records 19 consecutive days of victory.
Analysts say
June 11, Santiment analyst Brian Quinlivan tells Cointelegraph “High optimism about Ethereum.”
“More and more eyes turn to Ethereum,” he said, adding, “It has been catching up since the market began to recover in mid-April.”
Meanwhile, Crypto Fella warns that the upcoming Altcoin season this cycle, which is usually expected to follow a strong etheric rally, may be more limited than in the past.
They added: “Make sure to hold the right replacement because not everyone will start running in the upcoming playoffs.”
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This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.
