Ethereum followed suit and the price of ether dropped. It certainly had an impressive second act late in the evening, which was an indication of a big rotation of capital away from Bitcoin. As such, Michaël van de Poppe said he would like to be buying ETH in the $2,100-$2,250 range if Ethereum gets a larger pullback.

Ethereum's price was $2,468.88 at 9:15 p.m. ET but experienced a 2.64% decline in the last 24 hours. The price didn’t stay down for long though as it dipped all the way down to $2,411.59 but made a late night recovery.

Ethereum’s market share rose to 9.1% even with the price drop. This increase indicates that investors are moving their interest from Bitcoin to Ethereum. This indicates that investors are taking a step back and reassessing their portfolios, perhaps looking for different opportunities to invest in the cryptocurrency market.

Michaël van de Poppe, a well-known cryptocurrency analyst, commented on the potential buying opportunities that could arise from Ethereum's price movements.

I expect shallow corrections, but would be diving into these as opportunities. - Michaël van de Poppe

When Ethereum does pull back, I’d be looking to get interested again as Ethereum approaches the $2,100 to $2,250 area,” Van de Poppe said.

The post discussed Ethereum’s support level.

Any dips, if needed at all, would only solidify $2,200 as range low support - Rekt Capital

The Canadian crypto analyst claims that $2,200 may act as a strong range low support for Ethereum.