Yesterday the price of ethereum fell almost 12% from $1,655 to $1,458 after the Merge, however, according to cryptocurrency analyst RekCapital, the price is still attractive for those looking to invest for the long term.
According to RekCapital, one should not be disappointed with ethereum’s price drop after the Merge, as “the bullish effects of the ETH merger will emerge in the long run.”
People who bought #BTC a little too early in the Bear Market (eg at $35K) will outperform people who watched when BTC was at $20K but didn’t doing anything about it$BTC #Crypto #Bitcoin
— Rekt Capital (@rektcapital) September 15, 2022
“The investor who is disappointed with ETH’s post-merge price action is likely the same investor who would be disappointed with BTC immediately after the halving,” RekCapital noted.
Ethereum price may reach all-time high within months
Although the price of the world’s most important cryptocurrencies such as bitcoin or ethereum are falling, it should be noted that, in the long term, they have always had a significant rebound months after their most important updates.
For example, the price of bitcoin rose 700% after its last halving in mid-May 2020. This rise was not immediate, as the bitcoin price was in a range for almost 6 months to increase by 30%.
This means that the ethereum price is most likely going to go for new all-time highs in the coming months, just as happened with bitcoin after every halving.
“Such catalysts like bitcoin halving or ethereum merge have lagged effects on the price, in the long run,” RekCapital stated.
Short-term and long-term ethereum price analysis
Since mid-July, the ethereum price has been in a range between $1,400 and $1,800. If the price continues without breaking this range, the move will most likely be looking for $1,000.
On daily charts, ethereum’s projection remains bearish and its support would be around $1,000, while its resistance remains at $2,000.
However, if we analyze ethereum in the long term using weekly timeframes, it can be seen that support is around $1,000 and resistance is between $3,000 and $3,400. Therefore, it is very likely that the price is close to a bottom as suggested by RekCapital.
Ethereum 2025 forecast: long-term price
If we have already indicated that Ethereum is a good investment in the short term, because its value is expected to rise up to 200% in less than a year, it is an even better investment if we talk about the long term.
In the same way that Bitcoin is expected to replace current currencies in many aspects, especially as a store of value, and this will ensure that its value will never fall, something similar will happen with Ethereum.
Ethereum software is reliable, secure, environmentally friendly (thanks to the innovative Ethereum 2.0) and very innovative in the development of Dapps, reasons that will make Ethereum to be adopted more and more. More and more projects are using Ethereum technology and this is only going to make its price go up, more and more.
It is expected that by 2025 the price of Ethereum will have almost quadrupled its current value and it is estimated that by the end of 2025 the value of Ethereum will be approximately $ 7,606.
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