Dutch cryptocurrency trader and analyst Michael van de Poppe (@CryptoMichNL) has published a prediction of the most comfortable zone for Ethereum (ETH) price consolidation. Also, he revealed a crucial resistance level in front of the ongoing bull run.
Consolidation before future growth
According to the prediction by Mr. van de Poppe, an Ethereum (ETH) price drop of 10-11% would be the most reasonable scenario for its next consolidation. The zone between $215 and $220 looks comfortable for long positions to be opened.
If Ethereum (ETH) manages to hold above $210, Ether holders can expect a splendid run, its potential target being $300.
Although, the Ethereum (ETH) price could witness two more consolidations on the road to sub-$300 waters. The last time the Ethereum (ETH) price reached these levels was almost one year ago.
All in all, Mr. van de Poppe has no doubts about the character of the Ethereum (ETH) chart structure:
Overall looking great
Bright future for Ethereum (ETH)
Mid-term prospectives for the Ethereum (ETH) price also look spectacular. Dan Tapiero, founder of Gold Bullion International investment company recently admitted that we're on the verge of an 'explosive upmove' of the Ethereum (ETH) price.
This position is confirmed by the splendid technological progress of both Ethereum (ETH) and Ethereum-based products.
Last week Matic second-layer scalability solutions released mainnet, a Bitfinex integrated Plasma infrastructure by the OMG Network and a couple of zk-based systems delivered meaningful updates.
Also, the insane rally of the Grayscale Ethereum Trust stock is the best indicator for how huge interest in Ethereum (ETH) prospectives is.