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At What Price Should You Buy Ethereum After Its New All-Time High?
Analyst Michaël van de Poppe addressed a question that interests many traders — at what price it makes sense to buy Ethereum after it has set a new all-time high.
On August 24, the price of ETH reached $4,958 for the first time but, failing to break $5,000, it dropped and is now fluctuating around $4,600. This price action led Michaël to make a forecast for a potential decline in the cryptocurrency’s value.
“If markets experience a correction, I believe we’ll see Ethereum’s price fall to $4,100–4,200. That’s the ideal zone for accumulation before the upward trend resumes, leading to a new peak,” van de Poppe wrote.
If the expert’s prediction comes true and ETH first drops to $4,100 and then climbs back up to at least $5,000, buying at the bottom and selling at the peak would yield a 22% profit. The risk lies in the possibility of Ethereum dropping even lower — for instance, to the $3,941 level highlighted by Michaël. In that case, you would face an unrealized loss if you bought at $4,100. However, van de Poppe believes that in a worst-case scenario ETH would not remain below $4,100 for long.
Commentators who disagree with the analyst’s view argue that Ethereum will undergo a milder correction and its price won’t drop that far. Based on Fibonacci levels, the cryptocurrency is expected to decline only to $4,580–4,600 before entering the next stage of a bull rally.
See also: "Bitcoin’s Current Weakness Could Push Price Down to $108,000"
