Ethereum Price Drops 9.3% Amid Analysts’ Bullish Recovery Predictions
Ethereum (ETH) has decreased by 9.3% in the past week, dropping from $3,630 to $3,235. The asset is attempting to maintain support at $3,000, while some analysts remain optimistic about its long-term price outlook.
Can Ethereum Recover? Analysts Weigh In
- ETH's all-time high (ATH) of $4,878 from November 2021 remains unbroken.
- Analysts are observing an inverse head-and-shoulders pattern on the 3-day chart, suggesting a potential bullish reversal.
- Analyst MikyBull noted this formation, indicating possible upward momentum.
- Analyst Wolf projects ETH could reach $7,200 if the pattern completes successfully.
- Ali Martinez stated that a drop to $2,900 would be bullish and create a buying opportunity.
- Merlijn The Trader identified a bullish MACD signal on the 4-hour chart, suggesting potential movement towards $3,700.
Will ETH Hit A New ATH In 2025?
- ETH currently trades 33% below its ATH.
- Institutional interest is rising following SEC approval of spot ETH ETFs, potentially boosting momentum.
- Steno Research predicts ETH may outperform BTC in 2025, with a price target of $8,000.
- ETH needs to surpass the critical resistance level at $4,000 to aim for new ATHs.
- Current trading price is $3,235, reflecting a 0.1% increase over the last 24 hours.
