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While the second largest cryptocurrency on the market, Ethereum (ETH), is struggling to maintain the momentum above the crucial threshold of $ 2,500, an analyst estimates that ETH is ready for a major gathering.
In a recent article on the social media platform X (formerly Twitter), the Crypto Cyclop analyst expressed an upward perspective, qualifying the current market conditions as the best long configuration for Ethereum that he has seen for years.
The analyst sees the goal of $ 4,000 this summer
Cyclop highlighted That the Ethereum short positions have reached heights of all time, a situation reminiscent of a previous point which occurred just a few weeks ago.
The analyst noted that liquidity has been swept on both sides, creating a scenario where market uncertainty can benefit Ethereum. “Most of them doubt Eth and Altcoins right now-I’m betting on $ 4,000 this summer,” he said with confidence.
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Cyclop described several key factors stimulating its optimistic position. First of all, he underlined the recent update of Pectra, who invigorated the interest in Ethereum by improving Transaction capacitiesUpdate safety features and improve implementation options. This update would have resulted in an increase in demand, contributing to a sharp increase in prices.
In addition, Cyclop underlined the wider macroeconomic landscape, noting that the adoption of cryptocurrency accelerates beyond Bitcoin (BTC), Ethereum playing a leading role.
The analyst suggests that large companies and banks are starting to buy and join Ethereum, which increases confidence and interest in digital assets more, which could ultimately cause demand for demand and more prices.
Ethereum gatherings can trigger an altcoin boom
Channel metrics According to Cyclop. It is currently the highest second by costs, leads sharp net flows and ranks third in stablecoin supply changes, presenting its robust market position.
Another critical aspect of Cyclop’s analysis concerns altcoins and the next Alts-Season, traditionally characterized by an investment rush in Ethereum before spreading in smaller tokens.
He pointed out that historical models indicate that Ethereum prices rallies often trigger wider Altcoin increasesAnd the current feeling of the market suggests that many altcoins are at their lowest reflux.
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While Cyclop acknowledges that a majority of altcoins can face significant challenges, it maintains that the ETH remains undervalued, in particular with the Bitcoin trade nearly $ 100,000.
He has made strategic movements, reallocating some of his Bitcoin operations on Ethereum and promising strong altcoins. His initial objective for Ethereum is $ 3,000, where he plans to make profits, followed by a series of sales orders between $ 4,000 and $ 6,000.
At the time of the press, the ETH is negotiated at $ 2,500, an increase in prices of 12% within the weekly time.
Dall-e star image, tradingView.com graphic
