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Benzinga
Benzinga
Business
Benzinga Overnight Desk

Analyst Sees Ethereum Set For $3,400 Level

Ethereum Michaël van de Poppe Cryptocurrency

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 (CRYPTO: BTC) traded 5.2% higher at $40,525.

The cryptocurrency markets are seeing recovery — with Dogecoin (CRYPTO: DOGE) topping the charts — following Elon Musk reaching an agreement to purchase Twitter Inc. (NYSE:TWTR) for $44 billion.

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