Michaël van de Poppe, a popular crypto analyst and trader, is predicting a bullish trend for Ethereum (ETH), the second-largest cryptocurrency by market capitalization.
It’s worthy of note that the crypto market is currently showcasing bullish signs and ETH, the native token of the world’s largest smart contracts platform has been the best performer among the top 5 cryptocurrencies over the last couple of hours.
There have been bullish predictions in relation to the top cryptocurrency due to the London hard fork, coupled with the implementation of some Ethereum Improvement Proposals, such as EIP-1559, expected to play out in about 3 days’ time.
Obviously, Ethereum has been reacting positively to these upcoming major events. At the time of filing this report, ETH is trading at $2,589.81, with a relatively 5% price uptrend in the last 24 hours.
$3,000 Could Be the Next for Ethereum (ETH)
Cryptocurrency analyst and trader, Michaël van de Poppe, who is formerly known as Crypto Michael, is bullish on the price trend of Ethereum (ETH).
In a tweet on 1st August 2021, the analyst told his teeming followers that Ethereum (ETH) has started to change the trend with a new higher high. He stated that if the positive trend continues and the cryptocurrency is able to hold the $2,400 support level, the next price could be $3,000.
Read Also: Ethereum 2.0 Validators Surpass 200,000, Currently Holds Over 6.4 Million ETH
However, the analyst thinks that the digital currency could still drop to around $2,000 if the crucial support is lost.
Captioning an illustrative chart, Michaël van de Poppe wrote, “Ethereum is changing the trend here too, with a new higher high. I don’t think we’ll continue, but if we sustain above $2,400, then $3,000 is next. If that area at $2,400 is lost, then I’d be looking at a HL around $2,000-2,200.”
#Ethereum is changing the trend here too, with a new higher high.
I don't think we'll continue, but if we sustain above $2,400, then $3,000 is next.
If that area at $2,400 is lost, then I'd be looking at a HL around $2,000-2,200. pic.twitter.com/xT51s7Ux70
— Michaël van de Poppe (@CryptoMichNL) August 1, 2021
Meanwhile, Justin Bennett, a crypto analyst, had predicted a similar price trend for Ethereum (ETH).
In his prediction, he said he’s watching to see if the second-largest crypto asset can break through two areas of resistance – the first at $2,354 and the second at $2,612.
Bennett said if ETH retraces, the areas of support could be $1,996 and $1,863. And considering the price of Ethereum in the market, the predictions of the two analysts are still on the positive course.
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