Crypto Pundit Predicts Ethereum Price Rise To $3,000, But A Crash Could Happen First

Name	Symbol	Market	Market Cap ($)	Algorithm
SHIBA INU	SHIBUSD	Crypto	8,249,932,226	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

SHIBA INU

SHIBUSD

Crypto

8,249,932,226

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00	0.00%	0.000014	0.000014	0.000014

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00

0.00%

0.000014

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.000014	0.000014	0.000014	0.000014	0.00000662 - 0.000048

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.000014

0.00000662 - 0.000048

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	15:19:21	715,124.00	0.000014	USD

Exchange

Last Trade

Size

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GDAX

15:19:21

715,124.00

0.000014

USD

Price x Volume	Volume	Base Symbol	Related Pairs
6,509,347.92	101,690,474,446.47	SHIB	SHIBEUR	SHIBGBP	SHIBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

6,509,347.92

101,690,474,446.47

Crypto Pundit Predicts Ethereum Price Rise To $3,000, But A Crash Could Happen First

26/08/2024 9:30pm

NEWSBTC

Crypto analyst CrediBULL Crypto has provided deep insights into what to expect from the Ethereum price action going forward. The analyst predict that the second largest crypto token by market cap will still rise to $3,000 but noted that a crash will happen first. Ethereum To Rise To $3,000 Soon Enough In an X (formerly Twitter) post, CrediBULL Crypto shared a chart that showed that Ethereum would rise to $3,000 sometime in September. However, the analyst’s chart also showed that Ethereum will drop below $2,500 before it enjoys this move to the upside. CrediBULL Crypto did well to explain why he believes that ETH’s price will follow such a trajectory. Related Reading: Cardano Investors React To 14% ADA Price Surge To $0.37 According to the analyst, Bitcoin will likely pull back soon, giving altcoins like Ethereum a “nice reset.” He stated that Ethereum’s first downside target is around $2,300 and $2,500. CrediBULL Crypto added that Ethereum will target range lows if it loses that range. However, the crypto analyst remarked that the ideal move is for Ethereum to drop to this first downside target and then bounce from there for another leg up, pushing it into the higher timeframe resistance at $3,000 before the “final” crash. Meanwhile, CrediBULL Crypto again noted that this projected move depends on Bitcoin’s price action. As such, he warned that if Bitcoin “melts harder,” then ETH will likely lose the range between $2,300 and $2,500 and drop lower. On the other hand, if Bitcoin simply corrects “midway,” then Ethereum will see a bounce in that range and enjoy another higher high, which he highlighted on the chart. Based on this chart setup, CrediBULL Crypto warned that opening fresh longs on altcoins like Ethereum at their current price level is a bad idea. There is no doubt that crypto bulls may be tempted to make such a move, seeing as Bitcoin achieved a successful breakout above $60,000 over the weekend and looks ready for another massive rally to the upside. The Real Fun Hasn’t Began For ETH Crypto analyst Cousin Crypto suggested that the “fun” is yet to start for Ethereum and that a massive rally is still on the horizon for the crypto token. Based on the chart he shared, Ethereum is still set to rise above $5,000 in this bull run and could begin the rally to this price level next month. Related Reading: The Shiba Inu Shibarium Suffers 97.6% Crash In Active Accounts, What’s Going On? Crypto analyst Poseidon echoed a similar sentiment, remarking that the “expansion” will begin once Ethereum flips $3,000. This expansion will take Ethereum as high as $5,200, a price level the analyst predicted the crypto token could reach by October. Such a price rally will mark a new all-time high (ATH) for EtheETHreum, whose ATH is currently at $4,800. At the time of writing, Ethereum is trading at around $2,7030, down almost 1% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com

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