Popular analysts predict that Ethereum price will rise as Bitcoin consolidates in the short term. According to analysts, ETH/BTC price is ready for an upside move. Meanwhile, AI also predicts a rise in July for the leading altcoin.
Ethereum will rise against Bitcoin!
Bitcoin bulls held strongly above the psychological level of $30,000. Thus, BTC price consolidated for a massive upward move towards $35,000. Popular analysts say that Bitcoin is poised to take a breather and let altcoins bounce. In line with this, they say now is Ethereum’s turn to witness a rally.
Popular crypto analyst Michael van de Poppe thinks that Bitcoin will not move much. Because there are few macroeconomic events and Fourth of July holiday in the USA. However, he still expects the BTC price to exceed $31,000. In this context, the analyst said, “I want to see if Litecoin can sustain the rally and other altcoins will follow suit. “I am still waiting for Bitcoin to exceed $31,000,” he says.
The analyst predicts that Ethereum will continue to trade higher as long as it stays above 0.062. According to Michael van de Poppe, ETH/BTC price is poised for at least a 10% rally towards 0.07.
Crypto analyst Rekt Capital points out that ETH price successfully retested the top of the orange box as support for the first time last year. According to the analyst, this shows that ETH chart patterns are shifting for bullish action. Moreover, Bitcoin dominance will recede in the short term, as historical data shows. This will bring a recovery in altcoins
ETH price has risen 3% over the past 24 hours, while BTC price has only moved 0.60%. This indicates that Bitcoin will continue to consolidate at the current level and altcoins will bounce. Meanwhile, Bitcoin and Ethereum are also attracting interest from institutional investors.
Artificial intelligence sets the price of the leading altcoin for July 31
cryptocoin.comAmid the massive market upswing, Ethereum price has seen notable gains in recent weeks as crypto investors took action to capitalize on the ongoing enthusiasm for institutional adoption. For short-term ETH price prediction, we looked at the predictions of the machine learning algorithm on PricePredictions. Specifically, the algorithm expects Ethereum to hit $2,105 on July 31, 2023. If this happens, it will represent a price increase of more than 7% from its price at press time.
The projection is based on various commonly used technical analysis (TA) indicators such as moving average convergence divergence (MACD), Bollinger Bands (BB) and more.
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