Analysts express optimism regarding Ethereum's future, pointing to key holding levels and the growing interest from large buyers.
Forecasts for Ethereum
Leading crypto market analyst Michaël van de Poppe indicated that if Ethereum manages to hold above $2,400, this could pave the way for potential growth in the coming weeks. He stated, 'If we hold above this crucial range low, we’re likely going to be testing the other side of the range in the upcoming weeks.'
Buying Data for Ethereum by Large Players
Crypto trader Quinten Francois pointed to Glassnode data showing that large buyers purchased 1 million ETH on June 16, which marked the largest daily buy since 2018. Furthermore, retail buying has also picked up.
Expectations in the Altcoin Market
Analyst Crypto Fella warned that this cycle's upcoming altcoin season may be more limited than in the past, advising investors to carefully select altcoins for investment.
Despite the decline in Ethereum's price over recent months, analysts' views remain optimistic for the coming weeks. Holding above the crucial $2,400 level could signal a more pronounced upward trend.
