Although Ethereum (ETH), the leading altcoin of the crypto money industry, has experienced serious increases in the last period, as of yesterday evening, it faced the seller pressure of the bears and started to lose value. As Ethereum and Bitcoin are selling, it has greatly affected altcoins. The cessation of the declines in BTC and ETH for now allowed altcoins to recover, albeit a bit.
According to Michael Van De Poppe, a successful cryptocurrency analyst, Ethereum may make another attempt at the $ 1,600 resistance levels in the coming hours. Despite this possible 5% jump, Poppe, who expects the correction in Ethereum to continue, conveyed the following words on the subject on his official Twitter account:
“#Ethereum can have some response and bounce here on the markets, but probably we’ll be looking at mid $1400’s for a real bounce. Corrections are fine.”
Underlining that the leading altcoin Ethereum (ETH) may decline to the level of $ 1,400 in the future, Poppe says that the correction movements are good. After this pullback, ETH, which is expected to start a new uptrend, seems to be able to exceed the $ 2 thousand levels. If Ethereum sags below $ 1,400, it seems that it may cause the downtrend to accelerate and altcoins to depreciate sharply.