This is why ETH price could fall by 15%

Some believe that ETH could drop to $1,500, while others see the current price levels as great buying opportunities.

The recently announced peace agreement between Iran and the United States, expected to be officially signed on June 19, has led to a major rebound in the cryptocurrency market, and Ethereum (ETH) has been among the biggest winners.

However, some analysts believe that the green wave may only be temporary, anticipating a major correction in the coming weeks.

Going south again?

Several hours ago, ETH rose to nearly $1,850, and is currently worth around $1,790 (according to CoinGecko), representing a 7% increase since last Tuesday.

While some stockholders may welcome the sharp rise, others believe the rally has occurred in an unhealthy manner and could be followed by a decline in the short term. One person who shares this theory is famous analyst Ted. he noted The asset’s Relative Strength Index (RSI) on the 4-hour scale has reached the overbought zone over the past three months.

“The last time this happened, the price of Ethereum dropped 15% in two weeks,” he recalled.

Whale activity is also worth monitoring. X Max Crypto user revealed a major investor open A $30.9 million sale on ETH with 20x leverage when the price was trading near $1820. With this risky bet, a mere $90 rise would have eliminated the trader.

Whales are known as experienced market participants, and many believe that their decisions are rarely based on their sixth sense, but rather on inside information they may have about upcoming events that could affect the price. Their behavior is often monitored by smaller players who may get scared and exit the ecosystem, negatively affecting ETH’s valuation.

A ‘huge spot’ to buy?

Other well-known industry participants have made very optimistic forecasts. User X, Michael van de Poppe, touched on the ETH/BTC ratio, He argues The current price level is an “exceptional place” to invest in the second largest cryptocurrency over the next six to twelve months.

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He added: “Next step = breaking 0.03250 and clearly entering the uptrend again. Otherwise, the price usually starts, the narrative will emerge and momentum will accelerate, and I would not be surprised to see momentum rise significantly in the coming period on Ethereum.”

Poseidon also entered, claim People have 90 days to buy ETH for less than $2,000 “for the last time.” Meanwhile, massive inflow from exchanges supports the bullish scenario.

like CryptoPotato newly I mentionedNearly 500,000 tokens were withdrawn from centralized exchanges over the past week, reducing selling pressure and seen as an early sign of accumulation.