While analysts are indecisive on what comes next for Bitcoin, there’s been a growing sentiment that Ethereum is poised to erupt higher. This is largely due to growth in decentralized finance, which some say will be a catalyst for ETH’s growth.
Not everyone is convinced the top altcoin sees such growth though, with there being a confluence of signs suggesting Ethereum is more likely to trend lower than higher.
Not Everyone Is Convinced Ethereum Is in an Uptrend
Michael van de Poppe, a cryptocurrency analyst and full-time trader from the Amsterdam Stock Exchange, says that Ethereum is on track to hit $300 in August or September.
He shared the chart below on June 22nd, writing that “this is going really well, so far.” The chart shows that as long as ETH holds the $225 region, it is primed to rally to the crucial $300 price point as the uptrend formed at March’s lows continues.
Ethereum price analysis by trader Michael Van De Poppe (@CryptoMichNL on Twitter). Chart from TradingView.com
The optimism has been echoed by John Todaro, part of the management team at BlockTown Capital. The investor said that Ethereum will “rally hard” once DeFi platforms “hit escape velocity.”
Not everyone is convinced of the Ethereum bull case though.
As reported by
