Ethereum consolidation paves way for $2K breakout potential

• Michael van de Poppe predicts Ethereum’s price could reach $2k soon.
• ETH’s price likely to consolidate before significant upward move.
• Maintaining ETH’s price above $1,825 threshold crucial for sustained upward trajectory.

Renowned crypto trader and analyst Michael van de Poppe visited Twitter yesterday to share his bullish outlook on Ethereum (ETH). He predicted that the digital asset’s price could soar to $2k shortly in his tweet. Van de Poppe also noted that ETH’s price is likely to consolidate in the coming days before making a significant upward move. As a respected figure in the crypto space, his insights are highly valued by investors and traders alike.

In addition, van de Poppe underscored the significance of maintaining ETH’s price above the $1,825 threshold. By doing so, the altcoin could sustain its upward trajectory. Furthermore, he posited that ETH is poised to set its sights on the $1,880 mark shortly.

In his final remarks, Van de Poppe asserted that a decisive breach of the $1,880 resistance level could propel ETH’s value to the $2,000 mark in a jiffy. The altcoin is hovering just below $1,825, having undergone a slight dip of 1.72% in the last 24 hours.

ETH was observed to be trading near its daily low of $1,815.90, indicating a decline in its market value. However, despite this setback, the altcoin exhibited commendable resilience against its primary rival, Bitcoin (BTC), with a 0.27% increase in value. Furthermore, the dip in ETH’s price did not significantly impact its weekly performance, which remained in the green with a 0.07% rise over the past seven days of trading.

According to the RSI line on ETH’s 4-hour chart, the price of the leading altcoin will experience a further decline within the next 24 hours. This is indicated by the negative slope of the RSI line, which is approaching oversold territory. Additionally, the 9 EMA line on the same chart is poised to cross below the 20 EMA line, signaling a bearish trend.