Cryptocurrency analyst Michaël van de Poppe says Ethereum looks set to retest the $3,400 level. If the level is breached, it is "party time," the Eight founder told his 580,000 Twitter followers.
Poppe's comments follow a recovery in the cryptocurrency market, with Ethereum breaching the $3,000 at the time of writing, up 6.6% over 24 hours. Bitcoin BTC/USD traded 5.2% higher at $40,525.
The cryptocurrency markets are seeing recovery — with Dogecoin DOGE/USD topping the charts — following Elon Musk reaching an agreement to purchase Twitter Inc. TWTR for $44 billion.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
