Bloomberg Senior Analyst McGlone Reveals His Latest Prediction for Ethereum (ETH): “Get Ready for This Level!”

This downtrend started in October, and is still ongoing, has been a major blow for Bitcoin and altcoins as it suffered from the decline of bitcoin and AltcoINs. There have also been significant losses to Ethereum (ETH) and these losses may increase further.

Bloomberg senior analyst Mike McGlone stated that Ethereum could fall to as low as $2,000.

Ethereum is giving investors mixed signals as bearish macroeconomic signals clash with record-high on-chain data.

This is the age of seven-day simple moving average for active Ethereum addresses, which has increased to around 718,000. While Ethereum is battling to break out of its long-established transaction range, even though the network’s activity on the ETH network has been growing.

This is a mixed picture, Mike McGlone says Ethereum will be more likely to protest $2,000 than to break above $4,000.

The analyst said Ethereum has been ‘$2,000-$4,000 in the $2,000–$4 range, but recently momentum is shifting towards the lower end of this range.

“Ethereum appears to be moving towards the lower end of the $2,000-$4,000 range since 2023.”

Especially when market volatility is back, I think it’s more likely to be below $2,000 than above $4,000. , ” and.

McGlone had also warned last December that Ethereum would be moving in a similar direction. His general prediction for ETH was bearish, “Ethereum $2,000 or $4,000″ in a post from his X account. My hypothesis is that the trend will be down.” , ” and.

*This is not investment advice.

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