Cryptocurrency analyst il Capo made a statement about the world’s largest altcoin Ethereum (ETH) and the altcoin season in his latest assessment.
ETH, whose dominance among altcoins has recently melted and whose proportional difference with Bitcoin has widened, has been the subject of heavy criticism from the cryptocurrency community from time to time. In addition, the sales made by the Ethereum Foundation are also widely talked about with the claim that they fueled the declines.
However, il Capo, who was previously a big bear analyst, is drawing a more optimistic picture about the future of Ethereum. According to the analyst, the support point between $2,800 and $3,000 that he previously predicted has been broken. il Capo thinks that the next support area is between $1,900 and $2,200. According to the analyst, this area may be tested in the near future and a local bottom may form in this area.
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On the other hand, the analyst said that his main target is still the all-time high price level and even above $ 5,000. According to the analyst, such a move could trigger an altcoin season.
*This is not investment advice.
Continue Reading: Veteran Cryptocurrency Analyst Reveals What It Takes to Trigger ‘Big Altcoin Season’
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Author: NixCoin
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