Ayush Jindal claims that the price of the altcoin may decline to $ 4.25 thousand as part of a short-term correction, but after that the coin will return to the renewal of historical highs.
In the near future, Ethereum is able to continue to grow and rise in price to $ 5 thousand. This forecast was given by NewsBTC analyst Ayush Jindal. According to him, the altcoin has overcome the key downtrend at the level of $ 4.3 thousand, which opens the way for the coin to renew historical highs. On November 3, Ethereum set a new all-time high at $ 4.63K.
According to Jindal, serious support for the altcoin was formed at the levels of $ 4.5 thousand, $ 4.4 thousand and $ 4.25 thousand. As part of a short-term correction, the Ethereum price may decline to these levels, but will subsequently return to growth, the analyst is sure.
At 18:25 on November 3, the altcoin is trading at $ 4.5 thousand. Over the month, the price of the altcoin has grown by 31%, and its capitalization has increased to $ 530 billion, according to CoinGecko.