Analyst Expecting More Drops In Ethereum Points This Level For New ETH Rally!

The second largest cryptocurrency with nice gains in 2023 Ethereum (ETH) There was a decline in the price yesterday.

Seeing over $1,650 ETHIt declined below $1,550. However, Ethereum, which has recovered somewhat, continues to trade at $ 1,560 at the time of writing.

While investors are considering whether these levels are good for buying Ethereum, popular cryptocurrency analyst Michael Van de Poppe He said there is more to ETH.

Stating that he expects a further decrease in ETH price, Poppe said, Ethereum He predicted that the price would drop further, closer to $1,400.

Stating that he can see some recovery at $ 1,550, which is a critical support level for Ethereum, the analyst said that for the continuation of the rally. ETH He argued that the real jump in the price will come from below the critical support level.

“Ethereum price might get some reaction and bounce around these levels.

But we’ll probably look to the mid-$1400 for a real bounce and continuation of the rally.”

Poppe added that the fixes for Ethereum are good.

#Ethereum can have some response and bounce here on the markets, but probably we’ll be looking at mid $1400’s for a real bounce.

Corrections are fine. pic.twitter.com/faBEGJKlnN

— Michaël van de Poppe (@CryptoMichNL) January 25, 2023

Faced with great selling pressure Ethereum It has fallen by 4.30% in the last 24 hours.

*Not investment advice.