At what price should we buy Ethereum after the maximum update?
Analyst Michael van de Poppe responded to the question that interests many traders about at what price to buy Ethereum after the update of the historical maximum. On August 24, the price of ETH reached $4,958 for the first time, but failing to reach $5,000, it fell and is currently fluctuating around $4,600. This dynamic change in the value of the coin forced Michael to make a forecast for the decline in the value of the cryptocurrency.
If a correction is observed in the markets, I assume that we will see a decrease in the price of Ethereum to $4,100-4,200. This is an ideal zone for accumulating coins before the resumption of the upward movement, as a result of which a new peak will be reached, wrote van de Poppe.
If the expert's prediction comes true and ETH initially drops to $4,100, and then rises to at least $5,000, then buying digital assets at the bottom and their subsequent sale at the peak will bring a 22% profit. The risk lies in the fact that the price of Ethereum may drop even lower, for example, to the level of $3,941, indicated by Michael. In this case, you will incur an unrealized loss when buying coins at the price of $4,100. However, as van de Poppe thinks, in the case of a major correction, the price of ETH will not linger for long below the range of $4,100. Commentators who do not agree with the analyst's position believe that there will be a weaker correction in the Ethereum market, and the price of the coin will not drop so significantly. Judging by Fibonacci levels, the cryptocurrency price may decrease to $4,580-4,600 before the next stage of the bullish rally.
