Ethereum (ETH) enthusiasts have reason to be optimistic as an analyst, known as DonAlt, unveils a potential scenario that could propel the cryptocurrency to levels not seen since Q2 2022.
DonAlt, with a following of 51,300 subscribers on YouTube, recently shared insights in a strategy session. He emphasized the importance of ETH bulls surpassing the resistance at $1,940 to ignite momentum for the leading smart contract platform.
According to the analyst, a breakthrough above $1,940 could potentially drive Ethereum’s price to reach $2,500. This level was last witnessed in early May 2022, before a marketwide collapse triggered by the implosion of the Terra (LUNA) eco.
While DonAlt presents a bullish scenario for ETH, he acknowledges that Ethereum may struggle to witness significant rallies until it recovers the $1,940 mark or until Bitcoin (BTC) finds its bottom.
As of now, Ethereum is trading at $1,740, reflecting a growth of over 4% in the last 24 hours. The cryptocurrency’s potential rally to Q2 2022 levels is contingent upon overcoming the crucial resistance and the overall performance of Bitcoin.
