Famous Crypto Analyst Bullish on Ethereum – Here is His Target

According to his analysis shared on social media, Ethereum experienced a temporary dip below a significant support level but has since recovered and reclaimed that prior support.

Van de Poppe interprets this price movement as a strong indication of buying pressure. The deviation below the support, followed by a swift return above it, suggests that buyers stepped in to accumulate Ethereum, preventing a further decline. He views this reclamation as a confirmation of an upward trend for the cryptocurrency.

Based on this analysis, Van de Poppe has identified $2,100 as the next likely target zone for ETH. His accompanying chart likely illustrates key support and resistance levels, potentially using trend lines and horizontal lines to mark these areas.

The deviation below the old support would be visible as a temporary dip below a marked line, followed by a strong move back above it.

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The $2,100 target would likely be positioned as a resistance level above the current price, representing a potential area where the upward momentum might face selling pressure.

In essence, van de Poppe’s chart visually demonstrates a successful defense of a crucial support level by buyers, leading him to project further upward movement towards the identified target. His analysis hinges on the principle that reclaiming a lost support level often signals renewed bullish momentum.

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