The trend of the cryptocurrency industry is largely due to the leading cryptocurrency. to Bitcoin (BTC) While BTC is trending sideways ETH It can move other altcoins. For this reason, the mobility of the second largest cryptocurrency in terms of total market value is very important.
Critical Level for Ethereum
Ethereum managed to renew the record 3 times in a short time and brought the all-time record here by throwing up to $4,600.
Analysts, on the other hand, believe that the rise will continue for the ETH price. According to the post published by Business Insider, the famous technical analyst Katie Stockton thinks that the rise of ETH will continue.
The analyst emphasized that if the Ethereum price can hold above $4,384 at the close this Friday, $6,000 will come. Although the analyst set a period of 6 to 12 months for $ 6,000, he did not hesitate to say that this is certain.
Stating that he does not expect the Ethereum price to rise in a straight line and that the signal on Friday will actually be a sign that the rise will continue, the analyst declared that the bull will continue until the first half of 2022.
According to the analyst, if Ethereum price drops below $4,384, the $3,340 level will be potential support. This means a 26% drop for investors.
The fact that CME will launch micro Ethereum futures can be a very positive development for both Ethereum investors and altcoins in general. In this context, most of the investors started to wait for December and this product.
*Not Investment Advice.