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Analyst: When the weekly closing price is above 2800 US dollars, ETH is expected to rebound to 3500 US dollars

Analyst: When the weekly closing price is above 2800 US dollars, ETH is expected to rebound to 3500 US dollars

Bitget2024/08/24 10:52

Cryptocurrency analyst Matthew Hyland stated in a video: If Ethereum's weekly closing price can break through $2,800, Ethereum may surge to above $3,500 to $3,600, which will also drive the rise of altcoins. Data from CoinGlass shows that if Bitcoin's price falls 6% to $2,600, it could wipe out long positions worth $1.07 billion; however if Bitcoin's price rises traders will be more confident as only $400 million is at risk. Meanwhile Jamie Coutts, Chief Cryptocurrency Analyst at Real Vision holds an optimistic view on Ether’s price but claims that Ethereum network activity needs to rebound before any significant changes occur. However not all analysts share the same views. Boomer Saraga founder and CEO of Khelp Financial recently stated that Ethereum’s on-chain activity indicates that the network is nearing its peak performance and prices are lagging behind.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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