[New Trends in Ethereum] Traders found that the price of ETH fell back to around $32,000, which is considered a good "buy" opportunity!
But it should be noted that the potential huge impact of ETFs may change the situation rapidly. According to the analysis of anonymous trader Sheldon The Sniper, $3,300 and below is the ideal buying range, and another low of $3,097 has been missed. He predicted that Ethereum is expected to climb to $4,000 in the next one to two weeks, emphasizing that this is a great time to "break through and set new highs."
Currently, ETH is trading at $3,209, down 7.68% in 24 hours. Since the spot Ethereum ETF debuted and attracted $107 million in net inflows, the price of ETH has fallen below the $3,500 support level. Futures market traders foresee a price correction, and the 7.68% drop has led to the forced liquidation of $42.53 million in short positions. Analysts generally expect Ethereum prices to rise sharply, and Michael van de Pope even said that the influx of ETF funds may bring "dramatic" price fluctuations, similar to the performance of Bitcoin ETF after its launch.
He believes that prices may rise from $3,500 to the $7,000-7,500 range, and predicts that there may be a one- to two-week adjustment period before rushing to a record high. Pav Hundal, chief market analyst at Swyftx, believes that the short-term goal is to get Ethereum prices back to the historical high of $4,890 in November 2021. Please note that this article does not constitute investment advice, investment should be cautious, and decisions should be made independently!
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The market is currently correcting, and the opportunity to buy at the bottom is coming at any time!
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