Analyst: The "lowest retracement point" of ETH before reaching a new all-time high may be $2,500

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2024-10-31 21:41:31

ETH-1,01%

Golden Finance reported that independent analyst Poseidon stated that ETH experienced the ‘last fall’ to $2,382 over the weekend, but immediately rebounded to over $2,500 within 48 hours. The trader explained that ETH regained the 200-day EMA level within an 8-hour time frame, and the weekend’s fall was a ‘Bear Market trap/deviation’, with a possible ‘lowest retracement point’ before setting a new all-time high at $2,500. Analysts said, ‘If it remains above $2600, I will add more long positions. I still believe this range will eventually break upwards.’

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