Ethereum Price Crash To $2,100 Triggers Fear, But Why Are Analysts Predicting A Rally To $6,000? 📈
Ethereum's price experienced a significant drop to $2,100 within 24 hours but quickly rebounded. Analysts predict a potential rally to $6,000 despite the recent downturn. Technical analysis by @CryptoWaveV suggests Ethereum's price completed a wave A correction, expecting a bounce to $2,792 before another drop. His 'ideal buy zone' for long-term accumulation is around $1,706.
Analyst Merlijn uses Wyckoff's framework, suggesting Ethereum is in the bullish markup phase after completing the spring and test phases. Price projections show levels above $3,850 and $4,800, culminating around $6,800 to $7,000.
Both analyses converge on Ethereum possibly achieving a $6,000+ price range within six months to a year, despite recent volatility. Ethereum traded at $2,420, a 7.4% increase in 24 hours. Featured image from Getty Images, chart from Tradingview.com.
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