Ethereum, the second-largest cryptocurrency, has been on a downward slide lately, dropping below $3,000. But some analysts see this as a great opportunity to buy low and ride the wave of a potential rebound.
When to Start Buying
Crypto analyst Alan Santana suggests waiting for Ethereum to reach a “baseline” level, which could signal the start of a price recovery. He believes this level could be reached in the coming weeks.
Santana warns that Ethereum could drop even further in the short term, possibly reaching prices between $1,800 and $1,500. He sees this as a prime buying opportunity for long-term investors.
Ethereum’s Future
Santana predicts that Ethereum could hit $10,000 by 2025. He believes that the current downturn is a temporary setback and that Ethereum’s long-term prospects remain strong.
Market Trends
Recent data shows that Ethereum’s price has been declining steadily, mirroring Bitcoin’s recent slump. Analysts are still bullish on both cryptocurrencies, anticipating a rebound after the current dip.
What to Watch For
While Ethereum’s price is likely to continue dropping in the short term, analysts are keeping an eye on key support levels. These levels could indicate the bottom of the current downtrend and signal a potential price reversal.
Overall, the current downturn in Ethereum’s price is seen by some as a buying opportunity for long-term investors. However, it’s important to remember that the cryptocurrency market is volatile and unpredictable, and investors should proceed with caution.
