According to a crypto analyst who makes a pretty strong case, Ethereum (ETH) may find long-term solid support in the $2,000 range, which suggests that it’s still the right time to invest in ETH.

This range recently became a focal point for Ethereum’s consolidation, with trading activities contributing to increasing holders’ establishment of their cost basis within this band. The significance lies in understanding investor psychology, where the cost basis represents a crucial reference point.

The Opportunity to Invest in ETH

It's Still the Right Time to Invest in Ethereum (ETH). Here's Why

This price level becomes pivotal for investors, as their profit-loss dynamics can shift when the asset’s spot price revisits this level.

Simply put, the fact that Ethereum is building up in the $1,900–$2,100 range indicates that a significant portion of investors are placing their trust and value in this region. Given that this price range has a high density of holders, it suggests that people in this market are generally optimistic about Ethereum’s future stability and growth.

Consequently, the expert contends that the current state of affairs offers a favorable time to contemplate investing in Ethereum, with the $2,000 area acting as a crucial support foundation for possible long-term profits.

Given this rationale, investors holding Ethereum may exhibit a response when the anticipated retest occurs. Those who previously experienced profitability at the specific level may be inclined to expect a similar outcome and choose to increase their holdings.

While a small number of investors making similar moves could have little influence, many investors acquiring within the same small range could create strong support for Ethereum in the event of a retest. For these investors, the $1,900 to $2,100 range, currently harboring the cost basis of 5.85 million addresses that acquired a total of 43.8 million ETH, signifies a profitable position.

Ethereum (ETH) Price Prediction

It's Still the Right Time to Invest in Ethereum (ETH). Here's Why

As such, if Ethereum dips to this level, this range may set off a significant purchasing reaction. Analyst Ali emphasizes that it’s still possible to consider investing in ETH and highlights that this range can develop into a major support level for the cryptocurrency in future years.

The same expert looked at Ethereum’s weekly chart and identified a pivotal level in a recent post. Getting a steady candle near over $2,150 could start an exciting uptrend.  The chart reveals a potential breakout above the ascending triangle pattern, prompting Ali to suggest ambitious targets. The analyst believes Ethereum could rise to $2,600 and reach $3,500.

The current state of the market has supported Ethereum, as evidenced by a recent climb above $2,200, which suggests a fresh positive momentum. The positive momentum largely indicated that investors are keeping a close eye on Ethereum as it keeps showing strength and is anticipating new developments and possible price changes.

In conclusion, although this post is not financial advice, investing in ETH is not too late. Like the other profitable investments in the cryptocurrency ecosystem like Solana, BNB, Cosmos, Cardano, XRP, etc., buying and hodling some ETH will keep you in a very profitable position in the coming months. Also, if you already have some ETH in your portfolio, you may want to fill your bag more.

ETH, ending the year by crossing the $2,000 price level and making the level its support could mean we would see more price increases at the beginning of next year. Especially with the recent ETH low supply, and the highly anticipated bull run and bitcoin halving in view. Hence, investing now may be one of the best choices you will make in preparation for the next bull run.

Remember this post is not financial advice. Hence, do your own research before buying any crypto asset. In addition, remember to invest only what you can afford to lose.