Van de Poppe: Ethereum makes a run to highs

Analyst Michaël van de Poppe expects Ethereum to make another attempt at recent price highs in the coming days. He writes this on X after a brief dip in which Ethereum hit the previous low and immediately recovered. According to Van de Poppe, Ethereum is currently behaving similarly to Bitcoin, which makes him optimistic about a further rise.

Ethereum is available at OKX and Bybit.

In short:

• Van de Poppe sees Ethereum recovering after a sweep of the previous low
• He expects a new attempt towards recent price highs in the coming days
• If it falls further, he looks at entry levels around $2.200

Ethereum recovers after sweeping the low

Ethereum briefly touched the previous support level, a move analysts call a sweep, and then immediately climbed back up. Van de Poppe sees this as a positive sign. In a post on X he writes that this pattern strengthens his expectation of a further rise.

Earlier, Van de Poppe also indicated that Bitcoin could move towards $81.000 to $83.000 ahead of a broader altcoin rally. In his view, Ethereum is currently moving in line with Bitcoin, which at the time of writing stands at $77.450 with a small gain of 0.2% in the past 24 hours.

Entry level at $2.200 as an alternative scenario

Van de Poppe also takes into account a scenario in which Ethereum sinks again. In that case, he looks at the level around $2.200 as a possible entry point. That level corresponds to a support zone visible on the chart he posted with his message.

Whether the expected rise actually continues depends in part on how Bitcoin behaves in the coming days. As long as both assets move in the same direction, Van de Poppe holds on to his positive expectation for Ethereum in the short term.