How much does it cost to buy Ethereum, which has risen in price to almost $5,000?
Analyst Michael van de Poppe answered a question that many traders are interested in about what rate to buy at эфириум after updating the historical maximum.
On August 24, the price of ETH first reached $4,958, but fell short of $5,000 and is now hovering around $4,600. This dynamic of the coin’s value change forced Michael to make a forecast for the fall in the cryptocurrency’s value.
If there is a correction in the markets, I believe we will see Ethereum price fall to $4,100-4,200. This is an ideal area for accumulation of coins before the upward movement resumes, which will result in a new peak, van de Poppe wrote.
Ethereum price chart published by Michael
If the expert’s prediction comes true and ETH first falls to $4,100 and then rises to at least $5,000, then buying digital assets at the bottom and then selling them at the peak will bring 22% profit. The risk is that the price of Ethereum may fall even lower, for example, to the level of $3,941 indicated by Michael. In this case, you will incur an unrealized loss by purchasing coins at the rate of $4,100. However, as van de Poppe thinks, in the event of force majeure, the price of ETH will not remain in the range below $4,100 for long.
Commentators who disagree with the analyst’s position believe that the Ethereum market will experience a weaker correction and the coin’s value will not fall as much. Judging by the Fibonacci levels, the cryptocurrency’s rate will decrease to $4,580-4,600 before the next stage of the bull rally.
