Analyst: Ethereum May Grind to $280 Before ETH 2.0 Hype Propels It Higher

At the time of writing, Ethereum is trading down marginally at its current price of $341. While speaking about where Ethereum may trend in the near-term, one analyst explained that he anticipates it to see a slide down to the $250-280 region before it finds any strong support.

He notes that the dip to this region may occur around the time when hype for ETH 2.0 begins building, with this support acting as a launchpad for further gains. The coming few days should provide investors with insight into the market’s near-term outlook, as Bitcoin’s trend will likely guide that of Ethereum and other altcoins.

Timeline of Ethereum