Analysts Predict Potential Ethereum Recovery and Subsequent Crash Below $4,000
Ethereum has recently experienced a decline, influenced by the downward trend of Bitcoin. After dropping below $4,000, analysts have varied predictions for its future.
Potential Recovery and Subsequent Decline
- Analyst Melikatrader notes a recent recovery structure for Ethereum after a liquidity sweep at $3,700.
- If Ethereum holds between $3,700 and $3,800, it may lead to an upward correction.
- A successful bullish run could push prices to the $4,080-$4,180 range before a potential downfall.
- The bearish market structure indicates resistance around $4,100, where failure to maintain momentum may cause prices to fall below $4,000.
Cycle Top Prediction
- CRYPTO Damus suggests the current pattern might represent the cycle top, drawing parallels with previous cycles in 2018 and 2021.
- Despite variations in market cycles, if trends persist, the bull run may conclude, leading to a significant downturn.
Investors should closely monitor these levels as they may dictate Ethereum's short-term trajectory.