CandleFocus Ethereum (ETH) Bull Run to Resume and Last Into 2025, Michael van de Poppe Predicts
2024-12-12
Author: Content Editor
Crypto analyst Michael van de Poppe believes that the Ethereum bull run in 2024 remains intact, despite failing to sustain the $4,000 level. He views the recent price decline as a normal correction and notes that ETH is now trading at a range that provides an opportunity to accumulate at discount prices. Van de Poppe highlights a crucial resistance area at $3,800 and suggests that if the cryptocurrency breaks this zone, the Ethereum bull run might continue later this month into 2025. The sentiments expressed by van de Poppe align with the indications shown by the In/Out of Money Around Price (IOMAP), which suggests that a higher volume of Ethereum at $3,715 may soon lead to a rally toward $4,500. However, trading volume needs to increase for the price to rally, and bulls need to defend ETH from dropping below $3,505. If these conditions are met, Ethereum's price could climb to $4,096, and in a highly bullish scenario, it could reach $4,500.
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