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The crypto analyst who handles Kaleo has 586,700 Twitter followers. In a recent Tweet, he claimed that Ethereum could rise to $2,400. Unless it specifies that the price will first fall to $1600 before rising again.. If the prediction comes true, the price of Ethereum will rise to the level it reached in May 2022 before the collapse of the Terra ecosystem (LUNA).
A maximum increase of 50% is expected for Ethereum
Kaleo is a crypto analyst and trader with a significant following on social networks, mainly Twitter. In a tweet published on May 12, he declared :” This is still my best case for ETH. Dive to $1,600, then rise to around $2,400 to repeat the pre-LUNA/UST liquidation breakout level. »
Bluntz, fellow cryptocurrency strategist and fellow crypto strategist Kaleo Bluntz shares his opinion on the future of ETH. In fact, according to Bluntz, Ethereum which is the second largest crypto asset by market cap could go down to at least $1,600 before its current corrective movement can be terminated. According to Daily Hodl, Bluntz says:
” ETH is being completely corrupted right now. I’m not sure where I’ll be looking for a long position, probably between $1600 and $1700 and even then I’d like to see a very large reversal candle. »
The predictions were corroborated by a crypto analysis firm
Santiment, a well-known company specializing in crypto analytics, notes that the supply of ETH on crypto exchanges is decreasing. It would have fallen to the lowest level even in eight years.
” As Ethereum fell to $1,780 today, we saw the supply on the exchange shrink. The percentage of ETH on exchanges is at an all-time low (10.1%) since public trading began in 2015. This is essentially an all-time high for non-exchange-traded holdings. »
Like all major cryptocurrencies, Ethereum suffered due to the bear market that has been raging for more than one year. Sometimes, a general price increase has already been announced. Could we finally see it in the near future?
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