Summary
- Ethereum is said to be consolidating below the key resistance level near 2800 dollars.
- It stated that new investor inflows are necessary to break 3000 dollars.
- It projected that if new demand is weak, a short-term box range is possible, while inflows could push it up to the short-term target of 3131 dollars.
Ethereum (ETH) is trading near 2800 dollars and consolidating just below a key resistance level, and analysts say new investor inflows are needed to recover 3000 dollars.
On the 24th (local time), BeInCrypto analyzed, "New investor demand is essential for Ethereum to recover 3000 dollars. With the current lack of inflows, it is difficult for existing capital alone to create a strong breakout."
It added, "If new demand is weak, ETH may form a short-term box range again below 3000 dollars," and "if inflows recover, ETH could attempt to both break above 3000 dollars and flip it to support, and if it holds that area there is room to rise to the short-term target of 3131 dollars."
Meanwhile, Ethereum is currently trading on CoinMarketCap at 2788.71 dollars, down 0.23% from the previous day.
