Bitcoin recovery ($BTC) and altcoins stalled. Bitcoin’s rise stopped around $68,000, and Ethereum ($ETH) Above $2,000, analysts shared their predictions: $ETH.
Swyftx analyst Pav Hundal said Ethereum is likely to trade sideways for now.
Hundal said that many of the short-term macroeconomic risks, uncertainties, and upcoming sectoral catalysts are already reflected in Ethereum’s price. $ETH It is expected to level off in the coming weeks.
“A significant portion of the short-term uncertainty is already reflected in Ethereum’s price. Therefore, it is very likely that conditions will remain relatively calm over the next few weeks.”
The analyst also said that geopolitical tensions between Iran and the US and developments regarding the US Cryptocurrency Market Structure Act (CLARITY Act) are already reflected in the price.
However, he noted that the market and Ethereum are likely to remain within a range unless additional unexpected catalysts emerge.
Hundal said the $19 billion liquidation scandal that occurred last October was still having an impact on the market, arguing that the collapse had hurt investor confidence and that confidence had not yet fully returned.
Hundal also pointed to the possibility of increased volatility in the medium term, saying, “Ethereum may enter a phase that will test even the most experienced investors. $ETH/$BTC If the ratio increases, Ethereum’s momentum could increase rapidly. ”
*This is not investment advice.