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Ethereum (ETH), the second largest cryptocurrency of market capitalization, experienced one of the most complex beginnings of the year, registering its second worst result in the first quarter of its history.
For now, ETH trades just above the key level of support USD 2000, which reflects a 43%decrease during the year. This clear contrast is particularly noteworthy compared to Bitcoins (BTC) and XRP, in which profits amount to 23% and amazing 279% in the same period, respectively.
Can 60% augment in Q2 restore it to $ 3,200?
Market expert Lark Davis drew attention to the dramatic deterioration of prices at the price of Ethereum in the last Social media updateemphasizing a 38% fall of Q1 this year for Altcoin.
This number is disturbingly similar to the worst quarterly efficiency of 46% recorded in the first quarter of 2018, as noted on the comparative chart divided by Davis.
After this disturbing quarter in 2018, Ethereum recorded a brief recovery of 15% in the second quarter, only to face over 40% of declines in the following quarters respectively, increasing the fears of current investors, that it is pattern It can occur again in this cycle.
Despite these discouraging data, Davis asked an captivating question about the “explosive” potential of the second quarter for Ethereum. Historically, from 2016 ETH during this period on average 66% augment.
If this trend persists and the price of Ethereum reaches a 60% augment in the coming months, its price may augment to USD 3,200 per token – levels not noticeable from the beginning of February this year.
The Crypto expert provides for an 1100% augment in the price of Ethereum
While tiny -term challenges remain, many analysts retain the long -term stubborn Ethereum perspectives. The Merlijn cryptographic analyst developed similarities between current market conditions and earlier Bitcoin results, suggesting that Ethereum is ready for a similar trajectory.
Analyst excellent“Battling, breaking and charging in the shape of the letter V”, which means that there may be a modern bull run on the horizon, and the forecasts suggest that it can reach up to USD 24,000 in this cycle-an augment in an augment in 1100%.
However, the way to recover is not without obstacles. Expert Ali Martinez recently Highlighted Key levels of resistance that Ethereum must overcome to get a balanced reflection in a tiny period.
Martinez noticed that the price of ETH has recovered its implemented price of 2,040 USD, but another significant challenge lies at the 2,200 USD mark, where sturdy resistance was observed for the leaders Altcoin.
Despite the recent recovery, in which there has been an augment in 10% over the past two weeks, Ethereum is still in the face of significant monthly losses, which is almost 25% after a broader market correction.
A distinguished painting with Dall-E, chart from tradingview.com
