Analyst Michaël van de Poppe Says Ethereum Is Flashing a Bullish Signal Against Bitcoin – Here Are His Targets

A widely followed crypto analyst says the following few days can either confirm or deny a reversal for Ethereum (ETH) as it trades against Bitcoin (ETH/BTC).

Crypto trader Michaël van de Poppe tells his 723,500 followers on the social media platform X that certain signs point to a bullish ETH divergence.

“These are great signs on the markets, as ETH has made its first bullish divergence in the daily timeframe in more than two years.

The question is: Will this be the actual reversal signal?

We’ll be seeing that in the next 2-3 days.”

In an update tweeted less than 24 hours after the above analysis, Van de Poppe confirms that ETH/BTC’s bullish divergence was a go.

“The bullish divergence on Ethereum is still active.

I’d like to see a 0.042 BTC hold for ETH, after which we should expect another upward push.

ETF flows are stagnating and slightly turning positive –> green September coming up?”

ETH is trading for 0.042 BTC at time of writing, or $2,452. The leading smart contract platform is down 4.5% against the US dollar in the last 24 hours. Meanwhile, BTC is currently worth $58,250, down 3.3% against the US dollar in the same period.

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Featured Image: Shutterstock/Tithi Luadthong