CryptoQuant: Ethereum expects sharp growth

Analysts at CryptoQuant predict that the correction of the ethereum rate ETH $2,676.10 Bridged Ether (StarkGate) -0.82% Market capitalization $0.2 billion VOL. 24 hours $0.35 billion is nearing completion, and the asset may soon demonstrate a significant price breakthrough. According to their estimates, after several weeks of liquidation of traders' positions in the market, buyers of the leading altcoin are regaining their strength.

Experts pointed out that the indicator that calculates the ratio of buyers and sellers of an asset on all exchanges has become positive again. At the same time, public interest in the ether has increased. In June, when the price of the coin reached $ 3,800, the open interest exceeded $ 13 billion, indicating the likelihood of a market correction, which did occur. On August 5, this figure fell to $ 7 billion, but now it has begun to recover again.

According to CryptoQuant analysts, a significant increase in the price of ethereum will be possible after leveraged players return to the market. Experts note that current data indicate the intensification of buyers, which creates the preconditions for the start of a strong bull rally.

Analysts' forecasts indicate that the positive dynamics in the crypto market is already observed, and by the end of the third quarter, it will become even more pronounced. However, cryptocurrency analyst Peter Brandt has a more cautious view, noting the possibility of ethereum falling to $ 2,000 and below.