The cryptocurrency analyst, widely followed by the crypto community, shared his Ethereum price predictions. Accordingly, Michael Van De Poppe expects the leading altcoin project to be at these levels by September. Here are the details…
“Ethereum will reach this level by September”
Famous cryptocurrency analyst Van de Poppe shared about Ethereum and Tether. The analyst told his 618,800 followers that he expects a bullish run for Ether. However, he predicts prices will rise for the broader cryptocurrency market as well. Van de Poppe analyzed ETH price action. Accordingly, he says that the leading altcoin project will soon encounter resistance against Bitcoin. However, the analyst does not expect a decrease in the price until September. According to him, Ether has the potential to continue its rise until September of 2022. The analyst also identified several levels as a result of the ETH analysis. Accordingly, it is possible for Ethereum to encounter a resistance against Bitcoin at the $ 1.616 level. However, support levels are located at $1,270 and $1,437.
The analyst also explains why he kept his bullish forecast limited to September. As we have reported as Kriptokoin.com, Ethereum plans to release the Merge upgrade in September. With Merge, the leading altcoin will switch from PoW mechanism to PoS. Thus, it will pave the way for staking ETHs and better functioning of the network. Van de Poppe said he expects more bullish momentum as the Merge upgrade approaches. According to the charts he shared, he is targeting $1,783 for ETH. In other words, Ether has the potential to be traded at $ 1,783 in September. At the time of writing, the altcoin is down 1.35% on the day. Accordingly, it is currently changing hands at $ 1,537.
“Tether (USDT) market dominance will decrease”
Along with Ethereum, Poppe also shared his Tether predictions. Accordingly, the analyst published a chart showing Tether’s market dominance. He then said that the chart was very important and he followed it closely. According to him, the market dominance of USDT seems to decrease much more. In other words, it will take crypto investors out of the stablecoin, which is indexed to the dollar, and invest it in other cryptocurrencies. This is in favor of altcoins because investments are likely to increase. Poppe says that despite the recent decline in Tether dominance, it has the potential to drop another 23%. Therefore, he states that the upward momentum of the market is likely to continue to increase. This prediction of Poppe is in line with his previous prediction that the cryptocurrency market will increase its value by 25%. The total market cap of cryptocurrencies is currently around $1 trillion. If that happens, $1.25 trillion will be unlocked.
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