A well-known crypto analyst, ranked second in terms of market capitalization Ethereum Express bullish sentiment on (ETH) brought. Crypto strategist Michaël van de Poppe stated that ETH is heading towards a price of $ 3,500, which it has not seen since April 2022. According to Van de Poppe’s chart, Ethereum appears to have turned a resistance level at around $2,145 into a support zone.
Ethereum is currently trading at $2,358, about 48% below Van de Poppe’s bullish price target.
According to the analyst, Ethereum is the second largest crypto- The upcoming Dencun upgrade, which aims to increase the scalability of its asset and reduce transaction costs, will further serve as a bullish catalyst.
At the time of writing, ETH is trading at 0.05506000 BTC ($2,455).
Turning to Bitcoin, Van de Poppe states that the leading crypto asset could reach $48,000 before the planned halving in April.
Bitcoin remains between levels. This means there is still a period of consolidation where I think Ethereum will start to perform better, especially if the upgrades are to be successful.
Bitcoin is trading at $42,978 at the time of writing.
