With the Ethereum price struggling around the $2,000 support, the question of 
when the digital asset will hit a bottom has continued to linger among 
investors. Naturally, a bottom is largely based on the Bitcoin price, setting 
the tone for the entire market. However, a crypto analyst has also suggested 
things to look out for that could help to confirm that the Ethereum price has 
actually hit a bottom and will begin to move upward once again. Watch Out For 
The Ethereum Close Above $2,100 For now, the Ethereum price is still trending 
below $2,100, and crypto analyst Rawl has called this out as the next 
important level to break. Given the fact that the Ethereum price had fallen 
below $2,400 initially, but then didn’t make a complete weekly close, it 
suggests that this could be a takeout. Related Reading: The Crowd Is Bearish 
On Bitcoin, But History Says That’s Bullish Going by this, the Ethereum price 
now needs to actually make a close above $2,100 on the weekly chart to confirm 
if this is the bottom or not. Since the cryptocurrency completed the last week 
without making this close, then it moves into this week for another chance to 
make the close. As the crypto analyst explains, a close above $2,100 would 
confirm the local bottom, setting the stage for the next price increase. The 
first move is expected to propel the altcoin as high as $2,400 in the primary 
move. However, the move is not expected to end there. For a secondary move, 
Rawl points to a climb to $2,800-$3,000, and hitting the top of this 
prediction would mean that the Ethereum price would rise 50% from the current 
level at the time of this report. “So the plan remains the same, we will 
likely stay choppy here before properly breaking above 2,100 and heading 
toward 2,800–3,000,” the analyst stated. Bears Could Still Take Over Just like 
with any scenario, there is still the possibility that the Ethereum price does 
not make this weekly close and ends up falling below it. In this case, it 
would put the bears back in control, likely triggering a sustained decline 
that would keep the cryptocurrency’s price below the $2,000 level. Related 
Reading: Bitcoin Last Line Of Defense Revealed: Can BTC Price Still Go To 
$40,000? Even in the case where the Ethereum price does close above $2,100 and 
completes the projected rally, the crypto analyst says this is only preceding 
a larger decline. In a previous post, the analyst had pointed out this 
possible large correction, but then posits that the Ethereum price could 
continue to rally and likely hit $6,500-$8,000 for a new peak. Featured image 
from Dall.E, chart from TradingView.com

Analyst Shares A Good Way To Know When Ethereum Has Hit A Bottom

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The rapid advancement of quantum computing poses a significant threat to the 
security of cryptocurrencies, necessitating urgent adoption of post-quantum 
cryptography to safeguard digital assets and maintain financial stability.
The post Google warns Bitcoin encryption could break with fewer quantum 
resources than expected appeared first on Crypto Briefing.

Cryptocurrency price in SEK