Analyst Indicates Ethereum Could Surge to $2,500 as Bitcoin, Ethereum, and Dogecoin Experience Minor Rise Prior to Inflation Data Release

Major cryptocurrencies traded slightly positively on Tuesday evening as investors awaited the release of Wednesday’s Consumer Price Index (CPI), which has the potential to determine the continuation of the range-bound trading pattern. Bitcoin has had a strong year so far, with prices up 84% year-to-date. However, much of the gains were consolidated during the winter months, while February, April, and May saw relatively stagnant or negative returns. The global crypto market capitalization stood at $1.19 trillion, increasing by 0.19% over the last day. U.S. stocks rebounded on Tuesday, with the S&P 500 and Nasdaq Composite both recording gains. Crypto trader Michael Van de Poppe noted that the current consolidation phase of Ethereum at its current prices could potentially result in a breakout, and if ETH manages to rise above $1,935, it could trigger a rapid rally. This could potentially take ETH to a level last witnessed in May 2022.

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About The Author

Niels I have been passionate about dogecoin since 2019, and have since become an avid follower and advocate of the cryptocurrency. I keep a close eye on the Dogecoin market and trends, and I'm always up-to-date with the latest news and developments. As a true believer in the potential of dogecoin, I am excited to be a part of the growing community and I'm eager to share my knowledge and experience with others. When not busy with dogecoin, I enjoy golf, and I can often be found on the golf course.

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