Ethereum Bulls Could Reject Analyst’s Projected Consolidation to $3,300

Key Points

1. Ethereum rebounded from a drop to $3,507, showing buyer interest, but resistance at $3,860 suggests further consolidation.

2. Analyst Michael van de Poppe predicts a potential drop to $3,300, which could build upside liquidity and set up a bullish reversal.

3. The ETHBTC pair has shown relative strength, gaining 3.9% despite broader market declines.

4. Ethereum remains within a trading range between $3,860 (resistance) and $3,507 (support), with further declines possible amid altcoin market movements.

5. Van de Poppe views a potential dip to $3,300 as a 'buy the dip' opportunity, expecting bullish momentum to return.