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No, Ethereum (ETH) Is Not Dead, Says Top Analyst
In a recent statement, top analyst Godfrey Benjamin emphasized the importance of exercising caution when considering the current bearish trend in the Ethereum market. According to him, it’s crucial not to panic and instead focus on strategic positioning.
Benjamin believes that Ethereum must regain its footing by retaking $2,000 and establishing support above it. To achieve this, he has set a primary bullish target for the $2,700-$3,000 range. Additionally, a move above $2,300 would be seen as an initial indication of strength.
However, if Ethereum were to break below its next significant support level at $1,750 and continue declining, it’s possible that the cryptocurrency could potentially return to the $1,500 range.
Despite the short-term bearish outlook, Benjamin stresses that Ethereum’s fundamentals remain strong due to continuous network upgrades and growing institutional interest. It is essential for investors to remain cautious yet patient as they await confirmation of a potential bottom.
Ethereum’s next moves will be crucial in determining whether the worst is truly behind it or if the decline continues.
Source: https://u.today/no-ethereum-eth-is-not-dead-says-top-analyst
