Ethereum Price Decline Noted as Analyst Predicts Upcoming Rally

Crypto analyst Marcus Corvinus provided insights into the recent decline of Ethereum, suggesting it is a minor setback before a potential upward trend.

Key Insights on Ethereum Price Action

Corvinus noted bullish momentum despite current price declines.
Ethereum has maintained higher lows compared to Bitcoin's lower lows, indicating strength.
Fading bearish volume suggests weak hands are exiting the market.
A Hidden Bullish Divergence RSI signal indicates a strong continuation setup.
Ethereum remains above July’s support after two retests despite an oversold Relative Strength Index (RSI).
Corvinus predicts a target range of $7,000 to $8,000 for Ethereum in this cycle.

Potential Price Movements

Arthur Hayes from BitMEX suggested Ethereum could drop to around $3,000 before a rally.
Hayes cited economic factors such as Trump tariffs and weak US job data affecting liquidity.
He anticipates Bitcoin may also retest the psychological $100,000 level.

Currently, Ethereum is trading just below $3,500, reflecting a nearly 5% decrease over the last 24 hours.