ETH - Potential to break up and test 2500
Sometimes things move fast. Bitcoin has surged significantly in the past few days, and the cryptocurrency market has followed to some extent. However, the most dominant upward movement is still with Bitcoin when we look at major cryptocurrencies.
A few days ago, I mentioned that I thought Ethereum might go down to a support area. This scenario can still happen if we don't break through the 1800 level in the near future.
But I believe we will break through 1800 and start moving higher, considering the momentum that has entered the market in recent days.
I've been optimistic since the bottom, but in recent weeks, I was also influenced by the negative sentiment circulating in the media. Fortunately, I didn't take any positions based on that. Instead, I saw it as an opportunity because I have a very positive outlook on the market's future.
If ETH breaks through the 2000 level, I see a strong movement toward the 2500 level. This can happen relatively quickly, but Ethereum and other cryptocurrencies always follow Bitcoin with some delay. So it may take a while before this materializes. Timeframes are always challenging to predict, but I can imagine ETH reaching the 2500 level toward the end of the year.
A few days ago, I mentioned that I thought Ethereum might go down to a support area. This scenario can still happen if we don't break through the 1800 level in the near future.
But I believe we will break through 1800 and start moving higher, considering the momentum that has entered the market in recent days.
I've been optimistic since the bottom, but in recent weeks, I was also influenced by the negative sentiment circulating in the media. Fortunately, I didn't take any positions based on that. Instead, I saw it as an opportunity because I have a very positive outlook on the market's future.
If ETH breaks through the 2000 level, I see a strong movement toward the 2500 level. This can happen relatively quickly, but Ethereum and other cryptocurrencies always follow Bitcoin with some delay. So it may take a while before this materializes. Timeframes are always challenging to predict, but I can imagine ETH reaching the 2500 level toward the end of the year.
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