Ethereum Ready to Rise? Analyst Identifies 80x Rally Levels
Top crypto specialists expect a parabolic surge for Ethereum (ETH) despite its poor performance.
Famous crypto analyst Javon Marks predicted a 2023-like price increase for Ethereum in a recent X article.
Marks believes Ethereum will repeat its 160% rally trend. He writes on X, âETH looks to have replicated a pattern from 2023 that led into an over +165% climb, and itâs looking to be âGO TIMEâ again.â
Marks has set a $4,723.5 target price, saying a break over this may push Ethereum beyond $8,100. If this trend continues, Ethereum's price might almost double.
Ethereum's recent market performance has been dismal despite this bullish prognosis. ETH has dropped 4.5% in 24 hours, falling below $2,400, a figure it briefly traded above during the weekend.
Javon Marks' research suggests a bright future for Ethereum, while other market experts have identified important support zones to avoid further drop.
Another prominent crypto researcher, Ali, has identified a vital support zone between $2,290 and $2,360. Ali says this zone is important since 1.90 million addresses have 52.30 million ETH.
Ali cautions that Ethereum might sell off if this support is broken, pushing the price near $1,800.
Notably, a break below this level would cause a lot of liquidations, invalidate optimistic forecasts, and start a new slump, changing market sentiment.
