Ethereum ETH price slow as turtle, but stable at a long distance

23 thg 6, 2023

Today, let's take a look at the prospects for ETHUSDT price movements in the medium term.

On the one hand, over the past week, the ETH price has grown +13%, which is worse than the BTC price +17%.
By the way, here we described our thoughts on the possible movement of the BTCUSDT price

On the other hand, buyers of ETHUSDT we can understand how difficult it is for them now, because the ETH price is now "stuck" in a powerful mirror zone. In 2021-2022, the $1750-2000 zone acted as a reliable support, and over the past calendar year, it has been acting as resistance and not letting it go up.

However, looking at this, as the Ethereum team and holders with investors are actively working to greatly reduce the supply of ETH on the market, we believe that the coin has a bright future.
It is also worth realizing that the current ETH is not the Ether of 2016-2017 or 2020-2021, when its price was multiplying every week. Now, Ethereum's capitalization share is 19-20% of the total crypto market capitalization, and now it is a very difficult task to move the price up by hundreds of %, as it was before, and requires exorbitant investments.
So now Ethereum has moved into the category of a "reliable, low-volatility investment", of course, by the standards of the crypto market.

Now, the main task of ETH buyers is to keep the price above $1750-1806. We consider this price range to be a reasonable one for a medium-term investment in Ethereum.
And the first target where you can sell at least part of your ETH savings is around $2870, which is +60%.
PS:
After the ETHUSDT price manages to gain a foothold above $2000, growth will become more dynamic.
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