Ethereum is about to see more bullish soon, but before this, there has to be another correction. Check out the latest reports about the price of ETH below.
At the moment of writing this article, ETH is trading in the green, and the coin is priced at $1,785.
ETH price analysis
According to the latest reports, it seems that the crypto strategist Benjamin Cowen is expressing bearish sentiment on Ethereum (ETH) amid failed efforts by the second-largest digital asset to climb back above a key resistance level.
In a new video, Cowen said that due to the high levels of “anxiety” for Ethereum that has built up around the $1,800 price, ETH is likely to fall.
According to Cowen, the level of “apathy” in the market is not as high relative to the bear season of 2019/2020.
“There’s so much anxiety in this level [$1,800 resistance level] like I think it’s much more likely to break down eventually…”
He continued and said this:
“I will be the first to admit it’s taking longer than I thought it would. But I also don’t really feel that same type of apathy in the market now that I did back in 2019 and 2020.”
ETH to grow bigger
Despite the price jump, Santiment stated the fact that Ethereum’s transaction fees fell below $2 when ETH hit a seven-month high compared to rising above $8 earlier this month when the second-largest crypto fell to a two-month low.
The online pubcalition the Daily Hodl notes the fact that a Twitter survey conducted by Santiment over the weekend also indicated the following:
“there are more people who believe Ethereum will rise above $2,000 first than those who think it will drop below $1,600 first. Nearly 10% of the respondents said they see Ethereum soaring above $2,000 next while 5.2% said they see ETH falling under $1,600 next.”
Stay tuned for more news.
