While cryptocurrency analysts are undecided about the next step of Bitcoin (BTC), they think Ethereum (ETH) is ready to rise even further. There are those who argue that the growth in decentralized finance will be a catalyst for the growth of ETH.
Crypto Michael, a cryptocurrency analyst and full-time trader from the Amsterdam Stock Exchange, said Ethereum will reach $ 300 in August or September. The analyst shared the chart below on June 22 and wrote, “It’s going really well for now.” The chart shows that as long as ETH holds the $ 225 region, it is preparing to move up to the $ 300 price point while the upward trend continues at the lowest levels in March.
This is going really well, so far. pic.twitter.com/lvGxxWjpCu
— Crypto Michaël (@CryptoMichNL) June 22, 2020
This upbeat prediction was also repeated by John Todaro, part of the BlockTown Capital management team. Investor said that Ethereum will start rally when DeFi platforms reach “escape speed”.
Not everyone is convinced of the bull run in Ethereum, though. Cold Blooded Shiller user analyst stated that there was a significant deviation between the 12-hour chart of ETH and a momentum indicator last week. Trader shared a chart with a downward trend comment. In addition, Ethereum’s trends in the chain are decreasing.
Ethereum’s price action is also linked to Bitcoin, as the leading cryptocurrency determines the direction of other digital assets. And unfortunately, there are signs that the movement of BTC will be downward.