After FTX’s bankruptcy, those who experienced declines and hard times bitcoin and in altcoins There has been a recovery in the last few days.
While this recovery in the crypto market increases investors’ hopes for a rise, analysts’ comments about the market continue to come.
In this context cryptocurrency analyst Michael Van de Poppe ETHEvaluating the rise in , he said critical levels of ETH.
Stating that Ethereum is showing too much strength, Poppe said that the critical level in ETH is $1,150.
According to Poppe, ETH if it maintains its current strength, it will go from $1,150 to $1,225.
If $1225 is also broken, ETH will first rise to $1,350, and from there to $1,550.
“Ethereum is showing more strength at its current level.
A significant bounce at $1,150 will likely go to $1,225. A break above $1,225 would start a run towards $1,350 and possibly $1,550 from there.”
#Ethereum showing more strength here, which is facing the highs already.
Crucial flip at $1,150 and probably, a break-out above $1,225 opens a run towards $1,350 and possibly $1,550. pic.twitter.com/37EvhhIa9d
— Michaël van de Poppe (@CryptoMichNL) November 29, 2022
The price levels predicted by Poppe have already manifested themselves and ETH continues its upward movement for now, breaking the levels stated by Poppe.
For Ethereum At the time of writing, it is trading at $1,266.
Aside from Michael Van de Poppe, the name on-chain analytics firm that draws attention to the mobility in Ethereum centiment it happened.
ETH’Stating that the active addresses in the last 6 weeks have reached the highest level of the last 6 weeks, Santiment stated that this situation affected the rise in ETH.
Stating that when the number of addresses increased before, ETH also increased in the following weeks, Santiment said:
“Ethereum’s active addresses rose to a 6-week high yesterday, which likely affected today’s price increase.
On October 15, the price of ETH increased by 30% over the next 3 weeks when active addresses last rose to this level.”
📈 #Ethereum‘s active addresses surged to its highest level in over 6 weeks yesterday, and that likely factored into today’s price growth. On October 15th, the last time addresses spiked at this level, the price of $ETH jumped +30% over the next 3 weeks. https://t.co/8LFsUn6Thz pic.twitter.com/hDekw9Em51
— Santiment (@santimentfeed) November 29, 2022
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