Ethereum

Bitcoin

mirror

Time

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analysts-predict-ethereum-rebound" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analysts Predict Ethereum Rebound</a><br></p>
<p style="text-align: justify">Ethereum (ETH) recently attracted attention as its price dipped below $3,000. However, analysts view this decline as a potential buying opportunity with expectations of a price rebound. Experts such as Alan Santana highlight the significance of timing the purchase of Ethereum strategically.</p>
<h2 id="when-is-the-best-time-to-buy">When is the Best Time to Buy?</h2>
<p style="text-align: justify">On August 7, cryptocurrency analyst Alan Santana shared insights on TradingView about the optimal timing for buying Ethereum. He noted that as ETH tests crucial support levels, its price is likely to revert to the “base level.” This return could signal an ideal buying window. Despite this, Santana cautions that there might be further price drops before stabilization.</p>
<p style="text-align: justify">Santana suggests that the market is expected to trend downward for another six to eight weeks. With only one week into this period, he advises <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> to wait for an accumulation phase, which could present the best buying opportunities for Ethereum.</p>
<h2 id="long-term-investment-prospects">Long-Term Investment Prospects</h2>
<p style="text-align: justify">The analyst believes that the accumulation phase will pinpoint the best price zones for long-term investments. Santana forecasts that ETH might exceed $10,000 by 2025, possibly reaching around $12,555. He emphasizes the importance of identifying low price points to maximize <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a> gains.</p>
<p style="text-align: justify">Santana predicts that Ethereum could drop to a range between $1,800 and $1,500. These lower prices might represent the next significant buying opportunity for ETH. He also suggests that Ethereum has not yet reached its absolute bottom and could fall to $1,500, marking a critical buying point.</p>
<h2 id="market-dynamics">Market Dynamics</h2>
<p style="text-align: justify">On Tuesday, Ethereum experienced the largest daily drop in volume since June 2022. The altcoin’s downtrend, ongoing since March 2024, is accompanied by high trading volume, indicating that the decline may continue. Over the past seven days, ETH has dropped 24.58% and is trading at $2,504.</p>
<p style="text-align: justify">Ethereum appears to mirror <a href="https://en.bitcoinhaber.net/high-hopes-for-u-s-bitcoin-etf-approval-amid-mixed-sentiments" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s downward trajectory, with Bitcoin also losing over 20% in recent weeks. Despite the bearish trend, analysts remain optimistic. Kaleo, another cryptocurrency analyst, expects further ETH price declines, followed by a recovery towards new highs.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">• Alan Santana advises waiting for an accumulation range to form before buying ETH.<br> • The optimal buying zone is projected to be between $1,800 and $1,500.<br> • Long-term investments could see ETH exceeding $10,000 by 2025.<br> • High trading volumes suggest the current downtrend isn’t over yet.</p>
<h2 id="conclusion">Conclusion</h2>
<p style="text-align: justify">Despite a significant price drop, Ethereum is seen as having strong recovery potential. Analysts recommend cautious investment, focusing on strategic buying during low price periods to maximize future gains. With expectations of ETH reaching new highs in the coming years, timing and patience appear to be crucial for interested investors.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/analysts-predict-ethereum-rebound" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analysts Predict Ethereum Rebound</a></h5>

Analysts Predict Ethereum Rebound

Table of Contents

BH NEWS

Other articles published on Aug 7, 2024

Crypto Heavily Influences American Elections!

Mark Cuban To Attend Crypto4Harris Town Hall with Other Crypto Democrats

Binance Labs Invests In Solana Restaking Network Solayer

Warning! Bitcoin faces death cross – Market turbulence ahead?

Stablecoins marked all-time volume records on turbulent trading day

Ethereum: Odds of ETH hitting a new ATH in Q4 are…

Join our free newsletter for daily crypto updates!