A closely followed crypto strategist believes Ethereum (ETH) is poised to rise despite the recent correction in altcoin markets.
The crypto market has witnessed huge fluctuations recently, and Ethereum is an important cryptocurrency that has been affected by these fluctuations. The analyst, known in the crypto market under the pseudonym Rekt Capital, said that the leading altcoin Ethereum successfully retested the $ 1,719 level as support. According to the crypto strategist, this test shows that ETH may rally in the coming months. is showing.
“ETH retest still successful. ETH enjoys price stability at the heart of this orange box.
ETH is well positioned to follow the blue path to maintain this level and revisit the top of the orange box.”
Looking at his chart above, he seems to be predicting a steady Ethereum rally to $2,275 by September. At press time, the leading altcoin ETH is trading at $1,737. This shows that there is a 30% increase potential towards the target.
While Rekt Capital expects a rise in Ethereum, popular analyst Justin Bennett thinks it’s still under a lot of pressure. According to Bennett, the fact that ETH is still trading below key resistance levels indicates barriers to bullish momentum.
“Crypto bulls have a tough job this week. Markets like ETH seem vulnerable.”
Bennett’s chart shows that ETH bulls must retrace the $1,800 level to successfully neutralize both horizontal and diagonal resistances.
Predicting can be challenging as the cryptocurrency market is often highly volatile. Different analysts’ different opinions allow investors to have different perspectives. As a result, the future performance of Ethereum may vary depending on the market situation and a combination of various factors. Investors should do their own research, assess risks, and consider the opinions of different analysts before making their own decisions.
You can follow the current price action here.