Ethereum Price Analysis: ETH Faces ‘Moment Of Truth’ After Crash Toward $3,000
29 Januar 2025 - 1:30PM
NEWSBTC
Crypto analyst Max has revealed that the Ethereum price is at a
critical junction, which could determine its trajectory going
forward. The analyst remarked that ETH faces a ‘moment of truth’
and explained that the crypto could enter a bearish phase if it
doesn’t complete a particular pattern. Ethereum Price Faces
Moment Of Truth After ETH’s Crash Toward $3,000 In an X post, Max
stated that the Ethereum price faces a moment of truth right here
following ETH’s crash to around $3,000. The crypto analyst added
that if ETH doesn’t complete its famous “ultra-scary 3 drive into
the lows” pattern before being miraculously saved, then it is over
for a while, indicating the crypto could suffer a further
downtrend. Related Reading: Ethereum Price Eyes $4,000 With
Rising Channel Pattern Max further explained that there is nothing
but air beneath the Ethereum price structure, which he highlighted
in his chart. His accompanying chart showed that the next
significant support level for ETH beneath $3,000 was at $2,400,
indicating that the crypto could drop to as low as this level if it
loses the psychological $3,000 level as support. The crypto
analyst then mentioned the worst case that could happen before
giving up on the Ethereum price is if it sweeps the $2,800 wick and
then the Bitcoin price drops to as low as $95,000. In such a
scenario, Max remarked that ETH would need an immediate reaction,
possibly because of the bearish sentiment that could spark among
investors. However, the analyst looks to still be bullish on
the Ethereum price in the meantime, reaffirming that he has no
intention to sell his spot holdings. Crypto whales also look to be
bullish on ETH despite its underperformance, as they have been
actively accumulating this past week. Bitcoinist reported that
Ethereum’s large transaction volume spiked by over 200% in 24
hours, indicating an accumulation trend from these whales.
How The ETH Price Action Could Play Out In an X post, crypto
analyst Wolf predicted how the Ethereum price action could play out
this year while claiming that ETH is currently being suppressed so
that large players can accumulate. According to the analyst, ETH
could break out to the psychological $4,000 price level by the end
of February. Related Reading: Ethereum’s Large Consolidation
Trend Points To Possible Price Explosion To $8,000 Following that,
Wolf predicts that the Ethereum price will enjoy a bullish March as
it rallies from $4,000 to $5,000 in days. He added that the
second-largest crypto by market cap could hit $6,500 by early
April. Once that is done, the analyst expects Ethereum to
experience two to three weeks of price correction before it then
pushes to between $9,500 and $10,000. At the time of writing,
the Ethereum price is trading around $3,100, down almost 2% in the
last 24 hours, according to data from CoinMarketCap. Featured image
from Unsplash, chart from Tradingview.com
Ethereum (COIN:ETHUSD)
Historical Stock Chart
Von Dez 2024 bis Jan 2025
Ethereum (COIN:ETHUSD)
Historical Stock Chart
Von Jan 2024 bis Jan 2025