Analyst Ali Martinez shared his assessment of what the second largest cryptocurrency by market capitalization could be Ethereum (ETH) in the short term. In his opinion, if the asset can hold the key support level of $2500, then its value can rise to $4000 or even $6000.
At the same time, the expert pointed out that if the $2500 level cannot be maintained, then there is a high probability that kriptovalyuta will fall to $1700. According to him, it no longer matters much whether an asset is deflationary or inflationary in its structure.
The key question is whether the above level, where 12,18 million wallets have purchased ~63 million ETH, will hold. According to Martinez, investor capital continues to flow out of Bitcoin and Ethereum into stablecoins, while there is no sign of the altseason coming.
He predicts that the network will soon Ethereum will face increasing competition from alternative blockchains, which could weaken the position of one of the first blockchains. Despite the growth of the cryptocurrency market, the share Ethereum in its total capitalization has fallen to its lowest level in several years, the analyst said.