Experienced cryptocurrency trader Michael van de Poppe updated his latest chart, which predicted that Ethereum (ETH) price would rise above $ 300 in August 2020.
The Building Looks Good
According to the analyst’s assessment; Ethereum (ETH) drop experienced on June 10-11 will not affect the general bull trend. The second-place crypto asset has recently dropped to $ 226 on some spot exchanges – after two attempts to conquer the $ 250 level.
As explained in this updated chart, the vulnerable zone against bulls starts from $ 210 to $ 220. So this drop is nothing more than a correction predicted before the next bullish series. And the $ 250 level still remains the next target for the price movement.
After $ 250, there is a very significant level of bearish pressure. It is around $ 280 and there may be another fix here.
The upward movement of the second cryptocurrency will likely not meet any resistance on the way to new annual highs above $ 300.
Too Many Catalysts
The bull forecast made a sound with several mid-term reviews that predicted a bright future for Ethereum (ETH) bulls.
Global macro investor Dan Tapiero, the founder of the Gold Bullion International fund, for example, claims that we are on the verge of an explosive rise for Ethereum (ETH) prices. The rapid technological progress of both Ethereum (ETH) and Ethereum-based products is seen as the main catalyst behind this action.