Cryptocurrency analyst il Capo shared his assessments regarding the world's largest altcoin Ethereum and the potential start of altcoin season.
Ethereum Criticism in the Crypto Community
Ethereum's dominance among altcoins has recently decreased, widening its proportional difference with Bitcoin. This has sometimes led to criticism from the cryptocurrency community. The sales made by the Ethereum Foundation are also discussed, with claims that they contribute to the declines.
Optimism from Analyst il Capo
However, analyst il Capo, previously known for a bearish outlook, is now painting a more optimistic picture for Ethereum's future. According to him, the support between $2,800 and $3,000, which he had previously predicted, has been broken. The next support area, he suggests, is between $1,900 and $2,200, and this zone might be tested soon, potentially forming a local bottom.
Goals and Prospects for Ethereum
The analyst also stated that his main target remains the all-time high price level and even above $5,000. According to him, such a move could trigger an altcoin season.
The forecasts and analytical reviews from il Capo offer a new perspective on the future prospects for Ethereum and the broader cryptocurrency ecosystem.
