Ethereum prediction: “Return to $ 4,150” $ 5.1 thousand – analyst star-news.press/wp

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Tom Lee expected that ETH could come up soon and print a new ATH above $ 5,000. While the market situation is in line with the upscale thesis, the US demand declined.

ETHEREUM (ETH) Price fell to 4 thousand dollars on August 19, a level that the Wall Street Tom analyst believes that it could be a starting point to 5.1 thousand dollars.

In the X Publishing (formerly on Twitter), I repeated me to drop the Mark Newton that I would like to fell in the middle of the week about 4 thousand dollars to $ 4.15 thousand.

he The name It is a healthy correction with the possibility of ETH to $ 5.1,000 in the short term.

“ETHEREUM is subject to a simple correction. The decline to 4,075 dollars -4,150 dollars in the middle of the week. The decline is healthy.”

And link the projection to the analysis of the Elliot wave. Accordingly, at the time of the press, ETH witnessed relief at 4 thousand dollars, which doubled as resistance in 2024.

Source: Eth/USD, TradingView

Achieve ETH Exchange Loos New Yearly LOWS

Structurally, total exchange sale pressure also decreased to the lowest new annual level.

This indicates that investors have transferred their metal currencies from the stock exchanges to either self -need or audited operations, which confirms more of the upholstery.

Source: Cryptoquant

Interestingly, the recent decline was characterized by CME High Hustructs open interest (OI).

veil DataETH CME FUTURES OI amounted to $ 8 billion, thanks to an attractive basis trade of 10 % compared to 7 % -9 % for BTC.

Source: Philo

In other words, ETH has provided more attractive returns to hedge boxes that benefit from the neutral delta strategies by buying Spot ETH ETFS and shortening CME futures to collect 10 % on trade in August.

But in the short term, a strong recovery can only be achieved if the demand from American investors recovers.

As of the time of the press, investors ’appetite in Altcoin has decreased sharply in the past few days, as shown in the Coinbase Premium.

Source: Cryptoquant

It may confirm the offer and renewal in the scale, mobilizing me to 5,000 dollars; Thus, it is worth tracking.

Despite the stalled demand and Achieving profitETH Longs’s general market has risen in the past three days.

Coinglass data showed that the best Binance traders have increased long jobs from 75 % to nearly 80 %, confirming more upscale expectations.

Source: Coinglass