Ethereum seems bullish as it could drop to $350 in the immediate future, claims analyst. In the past 24-hours, Ethereum goes down by 3.34% and is currently trading at $368.
From $370 to $350
Crypto analyst says that Ethereum lost the support of an uptrend and it could move lower now. According to him, the price of the second largest cryptocurrency may go down from $370 to $350.
“Safe to say we went a different direction than I originally intended, but I never lost sight of the liquidity I depicted in my previous tweet. It now looks to me that we are on our way to the triple lows. Fortunately I hedged on my “On the Verge” post last night.”
Another crypto analyst believes that Eth price can go low as $330 if it does not stop at $355. “Looking good now after the rough start to the trade. We are testing Monday’s midrange now. If we lose the weekly open then I’ll try to compound this targeting 355 then mid 330s. Took 50% off at the target and letting the rest ride for now. Should be a good week!,” he added.
Positive Sentiments for Ethereum
On the other hand, some crypto voices are positive for the Ethereum price in the future. Chris Burniske, the partner at Placeholder Capital and crypto analyst, conducted a poll on Twitter about Ethereum’s price at the end of 2020. The result was astonishing as the majority of the people thought that Eth would be trading above $500 at the end of 2020.
Where is $ETH by the end of 2020?
— Chris Burniske (@cburniske) September 12, 2020
The new update ETH2, which will arrive in November, may pour a positive influence over coin price. Raul Jordan of Prysmatic Labs commented:
“We can likely perform a feature freeze by mid October, allowing us to only work on security improvements and UX before going live. If all goes well, November is still looking good for a launch from our perspective.”
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