10x Research: Ethereum has a chance to grow above $ 3000

Analysts at 10x Research predict that Ethereum ETH $2,669.40 Bridged Ether (StarkGate) -2.57% Market capitalization $0.24 billion VOL. 24 hours $1.2 billion could rise above $ 3000 in the near term. They draw attention to the Relative Strength Index (RSI), which has dropped to 36%, indicating that the asset is oversold. In the past, such levels led to a price rebound.

The key factor of pressure on the market was the risk of a trade war between the US and China, which caused the collapse of cryptocurrencies. However, experts note that Ethereum is beginning to build a bullish momentum, and investors are gradually returning to the asset.

Two additional factors may also have a positive impact: the Pectra update, which will improve the Ethereum ecosystem, and possible favorable inflation data in the United States. An important level for further growth will be the breakout of $ 2650.

At the time of writing, Ethereum is trading at $ 2627, which indicates that a critical psychological point is approaching for further dynamic price movement.