Altcoins
Ethereum set for strong rally in second half of 2024, analysts predict
Crypto analyst Michael van de Poppe recently gave a positive outlook on Ethereum, expecting the cryptocurrency to skyrocket in the second half of 2024. In a recent article for X, the analyst sharing a historical analysis and interest levels focused on the second half of the year, during which altcoins such as ETH tend to rebound significantly.
The analyst noted that almost all altcoins performed poorly in the first half of the year. He claims that this trend will pave the way for a great rebound and acceleration in the second half, with Ethereum ready to take the lead.
Van de Poppe is optimistic about Ethereum’s fundamentals and the overall market environment. He expects market conditions to improve, leading him to predict that Ethereum will reach $7,000 by the end of 2024. This prediction is quite optimistic as it suggests that Ethereum trading will increase significantly in the future and supports the analyst’s opinion on its future prospects.
Ethereum Price Analysis
To reinforce this bullish outlook, Crypto Tony gave his take on the Ethereum price. In the recent article on X, Crypto Tony explain that Ethereum needs to restore the $3,650 level as support.
The analyst pointed out that testing this level again would be the best opportunity for those not in the trade to enter. Crypto Tony explained that if the price reaches this level, it would present a A solid foundation for further increases and to constitute a key level for higher prices.
Recalling the cyclical nature of the cryptocurrency marketAnalysts’ predictions will help investors and traders prepare for periods of stagnation, followed by explosive growth. Investors and traders should continue to monitor the market and prepare for the second half of 2024, where they can make a lot of profits if they are in Ethereum or other altcoins.
Recent analysts’ analysis indicates that a turning point could occur in the second half of 2024, with the possibility of Ether reaching $7,000 and the $3,650 support level being a critical level. Investors are advised to pay close attention to the market and prepare for what could prove to be a very crucial period for the digital currency.