Popular Analysts’ Estimates of the Optimal Time to Purchase Ethereum Based on Current Market Conditions
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After the collapse of the cryptocurrency exchange FTX, the price of Ethereum (ETH) has been going in a straight line. Crypto analysts think that $1,170 is a good price to buy Ethereum for the long term while investors wait for the price to go down further.
Before you miss the bus, buy Ethereum.
At the moment, the price of Ethereum (ETH) is above $1,200 and looks good. Since November, the price of ETH has been going back and forth between $1,170 and $1.3K as it tries to go up. The most important thing to know about this is that the price of ETH has been going up since November and stays mostly above $1,200.
Michael van de Poppe Analyst:
Michael van de Poppe, a crypto analyst, says that the market has been in a bear market for 19 months. Even though the Solana (SOL) and Polygon (MATIC) cycles are still going on, altcoins have been falling since May 21. He thinks that a relief run will start when there is a first higher-low on higher time frames.
Michael van de Poppe Think:
Michael van de Poppe also thinks that longs on Ethereum would do well at $1,190. For proof, wait for the price of Ethereum to drop close to the support level of $1,170 and then rise back above $1,200. Even though the markets are showing signs of improvement, indices and the U.S. Dollar Index (DXY) show weakness.
Still, this is pretty much what we’re waiting for on ETH, in which case we’ll probably retest before moving on. In the past few days, the markets have shown signs of improvement, but this won’t last because the indices are getting worse (while DXY shows the same).
Michael van de Poppe says:
Michael van de Poppe says that the price of ETH could rise to more than $1,280 by the end of this year.
Rekt Capital, a crypto analyst, says that investors who want to buy Ethereum for the long term can do so near $1,170. For a rally to happen, it will be important for the Bitcoin price to stay above $17,150.
Price of Ethereum (ETH) at the End of the Month
The current price of Ethereum is $1,216, which is almost 1% higher than it was 24 hours ago. Also, the 24-hour low is $1,206 and the 24-hour high is $1,224.
Even though people are less likely to expect a Santa Claus rally this time, the price of Ethereum could go up to $1,280 around Christmas or the New Year of 2023.
Source: Google Trend