Ethereum stands above $ 2,400, analysts see recovery chances

Ethereum (ETH) remains strikingly stable above the $ 2,400 border. Despite a decrease of almost 7 percent in the past month, the crypto coin seems to be recovered. And that is an important signal according to various analysts.

Van de Poppe sees room for Ethereum recovery

At the time of writing, the Ethereum course is at $ 2,452, after it was still peaked around $ 2,871 on 11 June. That revival quickly changed when geopolitical tensions between Israel and Iran caused nervousness on both traditional financial markets and in the crypto world.

Yet Ethereum now seems to be stabilizing. According to the Dutch analyst Michaël van de Poppe, also founder of my Trading Capital, that is significant. “So far it is going well for ETH,” he writes on X. “If we stay above this crucial level, we will probably test the top of the range soon.”

Analyst Brian Quinlivan van Santiment also sees that sentiment is changing towards Ethereum. “More eyes are now focused on Ethereum,” he says. “It has been on the wider market since mid -April, but that difference is getting smaller.”

Spot Ethereum ETFs see strong intake

The third quarter is historically not the strongest period for Ethereum, with an average increase of only 0.88 percent since 2014, according to Coinglass. Yet this time several market followers see room for optimism.

Crypto analyst Crypto Fella points to the ETH/BTC ratio as an important signal. It stands at 0.02275, a decrease of 6.84 percent in the past month. “It’s almost time for the long -awaited change,” says Fella.

Large investors also seem to anticipate this. Data from Glassnode shows that Whales bought more than 1 million ETH on 16 June, the largest daily purchase since 2018. In addition, 100.7 million dollars came in at the Spot Etfs on Monday alone, with a total of 206 million dollars this week.