The leading altcoin Ethereum accompanied the Bitcoin price decline today and fell by almost 4 percent. ETH, which has a market value of $314.2 billion, fell to $2,600 during the day.
According to cryptocurrency analysts, the price of Ethereum (ETH) may again break through the $3,000 threshold in the near term.
Ethereum Bullish Signal From Sniper: Is This the Short-Term Target?
The cryptocurrency analyst, known as “Satoshi Sniper” on social media, said that cryptocurrency whales added more than 200,000 ETH to their wallets in just four days. The additional purchase by whales of around $540 million could be a strong support for Ethereum.
The fact that cryptocurrency whales are buying large amounts of coins may mean that they think the price will rise. Events like this can lead other investors to expect that the price of an asset will rise.
Short-term target price for ETH
Another cryptocurrency analyst, Titan of Crypto, looked at Ethereum futures on the CME exchange. Focusing on the four-hour chart, the analyst wrote that the price of Ethereum could rise by as much as 15 percent if the gap created here is filled.