Crypto analyst Michaël van de Poppe identifies crucial price levels for Ethereum after a significant options expiry event. Despite fears of volatility, ETH rose 3% to $2,547. The option expiry of $1.02 billion settled at a max pain of $2,600.
Van de Poppe suggests Ethereum could maintain upward momentum toward $2,750, a resistance level faced thrice since August. A retest here might result in a breakout to $3,350. Alternatively, ETH could see a price drop, potentially falling to $2,000 under bearish pressure.
The US elections and potential Fed rate cuts are expected to impact Ethereum's price. High whale activity indicates accumulation and long-term confidence, despite recent price declines, likely due to controversial reports about Tether and geopolitical tensions.
Ethereum remains a popular choice for investors, with analysts targeting $10,000. This optimism is based on previous bull cycles and the anticipated bull run.
