Popular crypto analyst Michael van de Poppe said Ether is required to overcome this barrier to increase its chances of recording new highs for 2025.“If this happens on $ETH, that would signal a lot of potential upside to come for the entire #Altcoin market.”Source: Michael van de PoppeThe downside target for the short term is between $2,100 and $2,230, which could provide a good entry position for late investors, according to Van de Poppe. As Cointelegraph reported, Ether’s crypto market dominance has reached its most overheated levels since May 2021, which have historically preceded major pullbacks.
Related: 3 reasons why Ethereum price could rally to $5,000 in 2025The broader crypto market also experienced a sharp deleveraging event, with total liquidations reaching $312 million across all assets.
Source: CoinGlassEthereum’s rally stalls with buyer exhaustion Data from Cointelegraph Markets Pro and TradingView shows Ether’s impressive rally over the last week has pushed its relative strength index (RSI) above 70 on shorter and longer timeframe charts, indicating overbought conditions.
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Author / Journalist: Cointelegraph by Nancy Lubale
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