After hitting $65,000 yesterday, Bitcoin has fallen to around $62,000 today, and Ethereum has also fallen below $1,700.
Although there is a risk of further decline, $ETHpopular cryptocurrency analyst Ali Martinez suggests that Ethereum could suffer further losses.
Martinez noted that Ethereum is trading below X’s 200-hour simple moving average (SMA) and argued that it could fall further if it fails to recover from current levels. he set his next big goal $ETH For $1,580.
The 200-hour moving average (SMA) is an important technical indicator used to evaluate short-term trends. Prices trading below this level are generally interpreted as a sign of increasing downward momentum.
However, some analysts are optimistic about Ethereum. Dan Tapiello, founder of 10T Holdings and an experienced macro investor, says he remains optimistic about Ethereum despite years of sideways price fluctuations.
At this point, Tapiello points out, it’s reasonable to think that: $ETH It could increase in value by 5 to 10 times.
Second, former Messari analyst Tom Dunleavy highlighted Ethereum’s role as the primary blockchain for tokenized assets, arguing that this could ultimately drive prices significantly higher.
Dunleavy said that if trillions of dollars worth of assets were moved to Ethereum, its price would be $ETH will also increase.
“Given that Ethereum itself is believed to have a net worth of between $750 billion and $1 trillion, the price target for each would be between $20,000 and $50,000. $ETH Seems reasonable. ”
Finally, market bull Tom Lee believes that several factors could significantly boost the value of cryptocurrencies, including lower oil prices, lower inflation, a crypto-friendly White House, passage of transparency laws, and increased institutional adoption. $ETH.
Based on Bitcoin, Lee predicts a price of $22,000. $ETH.
“I believe the fair value of Bitcoin should be around $250,000. The level of fair value I believe Bitcoin should be is equivalent to the Ethereum price of $22,000.”
*This is not investment advice.
