Near Bottom for Ethereum?
Experts are clear, Bitcoin has found its bottom and will be able to gain strength again. Meanwhile, Ethereum continues to stagnate. What to expect next?
ETH holders, you will obviously have to be patient. All analysts agree that the altcoin slump may not be over. More precisely, it is an accumulation zone that awaits it around $2100.
Indeed, this value would appear to be a must before a major upswing. According to trader TED, the situation is not alarming because it always happened before the parabolic rise. So if we study the previous diagrams, It looks like $2,100 is set to be the final bottom…assuming no catastrophe happens in the meantime.
As you understand, it is possible for Ethereum to drop again, especially as it tries to regain support at $2,500. A simple rejection in the next few hours and we could be there… unless we drop to $1500 at the same time.
One element could still save the day
The decline in ETH still continues, but the situation is gradually improving. Indeed, the work of Vitalik Buterin is slowly getting rid of the previously missing Grayscale liquidations. These have fallen by 80% since last week, indicating that the token will be able to take full advantage of the incoming flows.
To go further: here are the main factors that can affect the price of Ethereum.
Moreover, they are still growing. At a total of $98 million yesterday, BlackRock’s ETH Ethereum is especially honored, which has raised $870 million since its opening. At this rate, the financial giant will undoubtedly surpass one billion assets under management by next Monday.
Moral of the story: All good things in Ethereum require patience.
Disclaimer
Disclaimer: In accordance with The Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased information, but market conditions may change without notice. Always do your own research and consult with an expert before making any financial decision.