As it is known, the FED announced the last interest rate decision of 2023 and left interest rates constant. Speaking after the decision, FED President Jerome Powell gave a hint that the FED might cut interest rates in 2024, which stirred up Bitcoin and altcoins.
While BTC approached the $ 43,000 limit again, the largest altcoin Ethereum also rose to $ 2,280 levels.
At this point, popular analyst Michael van de Poppe, who announced his BTC target after the FED's interest rate decision, now announced his ETH prediction and the next resistance point.
At this point, the analyst pointed out that the $ 2,125 level in Ethereum started to turn into support and said that the upward trend in ETH continued even if there was a correction.
Signaling that the rise will continue in 2024, Poppe stated that the next resistance for ETH is the $ 3,400-3,800 level.
“Ethereum is making a positive change of support and resistance at $2,125.
Even if it corrects to $1,900, the trend continues to rise and the next resistance area lies at $3,400-3,800 in the first quarter of 2024.”
ETH, which rose to $2,400 during the rise last week, continues to be traded at $2,285 at the time of writing.
#Ethereum making a positive support and resistance flip at the $2,125 mark.
Even if it corrects to $1,900, the trend remains up and the next area for resistance is found at $3,400-3,800 in Q1 2024. pic.twitter.com/F5fThIqONl
— Michaël van de Poppe (@CryptoMichNL) December 14, 2023
*This is not investment advice.
