By Tobi Loba
A well-known cryptocurrency analyst, Michael van de Poppe, popularly known as Crypto Michael, has recently shared his opinion regarding the price trend of Ethereum (ETH).
According to Crypto Michael, Ethereum (ETH), the second-largest digital currency by market capitalization, is potentially targeting $300 price level. He also revealed a crucial resistance level after the present bull-run.
Crypto Michael Says Ethereum (ETH) Price Is On Track for $300
Going by the prediction shared by Crypto Michael, a price decrease of 10-11% would be the most reasonable scenario for the Ethereum (ETH) next consolidation. He simply stated that it seems comfortable for the opening of long positions at the zone between $215 and $220.
He furthered that if Ethereum could hold above $210 price level, $300 could be the potential price target for the digital token ETH.
Captioning an illustrative chart for clarity about ETH price trend, he wrote, “Overall looking great. I’d prefer to see some more consolidation (just like the push towards $215). In that regard, $215-220 is a potential zone for longs. In general, as long as green holds, I expect further continuation with potential targets of $300.”
Overall looking great.
I'd prefer to see some more consolidation (just like the push towards $215).
In that regard, $215-220 is a potential zone for longs.
In general, as long as green holds, I expect further continuation with potential targets of $300. pic.twitter.com/qTL9BCOnFk
— Michaël van de Poppe (@CryptoMichNL) June 5, 2020
In another development, the founder of Gold Bullion International investment company, Dan Tapiero, also admitted the promising future of Ethereum (ETH) in terms of price, via his official Twitter handle on 4th June 2020.
In the tweet, with a chart captioned, he stated that the price of Ethereum (ETH) is on the verge of explosive upmove.
He wrote:
“Chart of Ethereum on verge of explosive upmove. Are there any upcoming potential catalysts? Move up through 300 projects to 500 minimum in coming 6-12 months. Any strong views out there?”
Chart of Ethereum on verge of explosive upmove.
Are there any upcoming potential catalysts?
Move up through 300 projects to 500 minimum in coming 6-12 months.
Any strong views out there? pic.twitter.com/xLV9wt5CVD
— Dan Tapiero (@DTAPCAP) June 4, 2020
Ethereum (ETH) in the Market
Ethereum (ETH) has been able to hold crucial support levels, which is most necessary for further uptrend of the digital currency.
Many crypto analysts have been positive regarding the future trend of Ethereum, and it has managed to maintain its price growth over the past few days. At the time of filing this report, ETH is trading at $242.71, with a 0.32% price downtrend in the last 24 hours.