The post Analyst Says There Will Be a “Sell the News” in Ethereum, Announces the Level He Expects the Price to Fall to Before Rising! appeared on BitcoinEthereumNews.com.

The long awaited day has finally arrived and spot Ethereum ETFs are opening for trading today. While analysts disagree on the impact of ETFs on the Ethereum price, some expect an increase in the ETH price and some expect a decrease. At this point, BRN analyst Valentin Fournier said that they expected a decline before an increase in Ethereum. The analyst stated that the ETF expectation was priced in and advised investors to prefer Bitcoin (BTC) instead of Ethereum. “We recommend maintaining the positive momentum in the cryptocurrency markets but favor Bitcoin over Ethereum as we believe the hype and ETF inflows are already priced in for ETH. “We expect Ethereum to drop to $2,800 to $3,100 before returning to $4,000 by September.” 10x Research founder Markus Thielen also expressed a similar opinion about Ethereum, stating that he expects a sell-off event after the ETF and that they will take profits before the ETFs are launched. Finally, Marex Solutions senior analyst Ilan Solot stated that a sell-the-news event in Ethereum ETFs is inevitable and that he expects a decrease in the ETH price after the ETF launch. “No amount of pre-launch bullishness reduces the risk of selling the news. The precedent of the 2-week decline following the launch of the Spot Bitcoin ETF has led investors to adopt a ‘buy on the dip’ strategy for ETH as well. This usually means the dips are shallow or don’t come at all. “Although there is a decrease in ETH, it is expected to be temporary.” *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/analyst-says-there-will-be-a-sell-the-news-in-ethereum-announces-the-level-he-expects-the-price-to-fall-to-before-rising/

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Filed under: News - @ July 23, 2024 7:22 pm