{"id":570842,"date":"2025-01-23T03:00:57","date_gmt":"2025-01-23T03:00:57","guid":{"rendered":"https:\/\/uniquehot.com\/?p=570842"},"modified":"2025-01-22T18:19:27","modified_gmt":"2025-01-22T18:19:27","slug":"ethereums-tipping-point-analyst-warns-of-steep-drop-to-2000","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereums-tipping-point-analyst-warns-of-steep-drop-to-2000\/","title":{"rendered":"Ethereum\u2019s Tipping Point: Analyst Warns Of Steep Drop To $2,000"},"content":{"rendered":"

Since Ethereum (ETH) peaked at $2,717 in the last two weeks, the asset has experienced a gradual decline, culminating in its arrival at a key demand zone, which could be instrumental in determining its imminent price trajectory, according to a prominent crypto analyst.<\/p>\n

Critical Support Zone Flags Continuous Bearish Move<\/h2>\n

Renowned crypto analyst Ali has pinpointed<\/a> a critical demand zone for ETH, ranging between $2,388 and $2,460. The resilience of this support level could pave the way for an upward trajectory, offering Ethereum a much-needed respite from bearish pressures<\/a>.<\/p>\n

Related Reading: Market Dips, Whales Play: Bitcoin And Ethereum Snagged By Savvy Investors<\/a><\/div>\n

However, should Ethereum falter, a bearish slide to the next major support level of around $2,000 may be imminent. Such a decline would represent a significant drop of nearly 20% from its current price around the $2,300 mark, posing a stern test for Ethereum’s market upward stability.<\/p>\n

\n

#Ethereum<\/a> Market Update: $ETH<\/a> is currently in a key demand zone, ranging between $2,388 and $2,460. If this support holds strong, there’s a clear path ahead with minimal resistance, offering a potential for upward movement.<\/p>\n

\u26a0\ufe0f However, if #ETH<\/a> fails to maintain this level, we\u2026 pic.twitter.com\/F0HfyrSdGF<\/a><\/p>\n

\u2014 Ali (@ali_charts) January 21, 2024<\/a><\/p><\/blockquote>\n

Over the past 24 hours, Ethereum has witnessed a noticeable 4.3% decrease in value, breaching Ali’s critical demand zone. Currently, ETH trades at $2,368, signaling a possibility of a further plunge from here.<\/p>\n

\"Ethereum
ETH price is moving sideways on the 4-hour chart. Source: ETH\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

This price dip is mirrored in Ethereum’s trading volume, which has seen a significant decrease from $19 billion last Monday to just over $10 billion today, indicating lesser trading activity and a shift in investor sentiment.<\/p>\n

Ethereum’s Market Dynamics: Whales Buying Dip and Rising Dominance<\/h2>\n

The current market dip has not gone unnoticed by savvy investors. According to Lookonchain, a crypto analytics platform, a prominent Ethereum whale has capitalized on the opportunity<\/a>, acquiring 3,600 ETH valued at around $8.9 million.<\/p>\n

\n

After the price of $ETH<\/a> dropped today, this smart whale bought 3,600 $ETH<\/a>($8.9M) back at a lower price 5 hours ago.<\/p>\n

This whale is very good at buying $ETH<\/a> at low prices and selling $ETH<\/a> at highs.<\/p>\n

The profit is ~$25.8M currently!https:\/\/t.co\/UzXbheftr1<\/a> pic.twitter.com\/DannZzsQVk<\/a><\/p>\n

\u2014 Lookonchain (@lookonchain) January 19, 2024<\/a><\/p><\/blockquote>\n

This strategic move is part of a larger pattern observed in the whale’s trading history, marked by buying low and selling high. This tactic has reportedly amassed profits estimated at $25.8 million.<\/p>\n

Related Reading: Here Are The Most Bullish Predictions For ETH Price As Ethereum Dominance Rises Against Bitcoin<\/a><\/div>\n

Amid this bearishness, Ethereum has shown resilience in terms of market dominance<\/a>. A recent report by analytics firm Santiment reveals that Ethereum’s market share, relative to the total crypto market capitalization, has surged by roughly 22.4% in just one week<\/a>.<\/p>\n

This growth is complemented by a significant increase in active Ethereum addresses, with an average of 89,400 new addresses joining the network daily, reaching a peak of 96,300 new addresses in a single day.<\/p>\n

These figures suggest a growing interest<\/a> and engagement in the Ethereum ecosystem despite the current market conditions.<\/p>\n

\n

\ud83d\udcc8 #Ethereum<\/a>‘s price dominance continues to surge against #Bitcoin<\/a>‘s, now +22.4% in a week. During this stretch, there have been 89.4K new $ETH<\/a> addresses created per day, and 96.3K wallets just yesterday. Additionally, the 2nd largest market cap asset’s supply on<\/p>\n

(Cont) \ud83d\udc47 pic.twitter.com\/9nHCl6PJPy<\/a><\/p>\n

\u2014 Santiment (@santimentfeed) January 16, 2024<\/a><\/p><\/blockquote>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Since Ethereum (ETH) peaked at $2,717 in the last two weeks, the asset has experienced a gradual decline, culminating in its arrival at a key demand zone, which could be instrumental in determining its imminent price trajectory, according to a prominent crypto analyst. Critical Support Zone Flags Continuous Bearish Move Renowned crypto analyst Ali has pinpointed a critical demand zone for ETH, ranging between $2,388 and $2,460. The resilience of this support level could pave the way for an upward trajectory, offering Ethereum a much-needed respite from bearish pressures. Related Reading: Market Dips, Whales Play: Bitcoin And Ethereum Snagged By Savvy Investors However, should Ethereum falter, a bearish slide to the next major support level of around $2,000 may be imminent. Such a decline would represent a significant drop of nearly 20% from its current price around the $2,300 mark, posing a stern test for Ethereum’s market upward stability. #Ethereum Market Update: $ETH is currently in a key demand zone, ranging between $2,388 and $2,460. If this support holds strong, there’s a clear path ahead with minimal resistance, offering a potential for upward movement. \u26a0\ufe0f However, if #ETH fails to maintain this level, we\u2026 pic.twitter.com\/F0HfyrSdGF \u2014 Ali (@ali_charts) January 21, 2024 Over the past 24 hours, Ethereum has witnessed a noticeable 4.3% decrease in value, breaching Ali’s critical demand zone. Currently, ETH trades at $2,368, signaling a possibility of a further plunge from here. This price dip is mirrored in Ethereum’s trading volume, which has seen a significant decrease from $19 billion last Monday to just over $10 billion today, indicating lesser trading activity and a shift in investor sentiment. Ethereum’s Market Dynamics: Whales Buying Dip and Rising Dominance The current market dip has not gone unnoticed by savvy investors. According to Lookonchain, a crypto analytics platform, a prominent Ethereum whale has capitalized on the opportunity, acquiring 3,600 ETH valued at around $8.9 million. After the price of $ETH dropped today, this smart whale bought 3,600 $ETH($8.9M) back at a lower price 5 hours ago. This whale is very good at buying $ETH at low prices and selling $ETH at highs. The profit is ~$25.8M currently!https:\/\/t.co\/UzXbheftr1 pic.twitter.com\/DannZzsQVk \u2014 Lookonchain (@lookonchain) January 19, 2024 This strategic move is part of a larger pattern observed in the whale’s trading history, marked by buying low and selling high. This tactic has reportedly amassed profits estimated at $25.8 million. Related Reading: Here Are The Most Bullish Predictions For ETH Price As Ethereum Dominance Rises Against Bitcoin Amid this bearishness, Ethereum has shown resilience in terms of market dominance. A recent report by analytics firm Santiment reveals that Ethereum’s market share, relative to the total crypto market capitalization, has surged by roughly 22.4% in just one week. This growth is complemented by a significant increase in active Ethereum addresses, with an average of 89,400 new addresses joining the network daily, reaching a peak of 96,300 new addresses in a single day. These figures suggest a growing interest and engagement in the Ethereum ecosystem despite the current market conditions. \ud83d\udcc8 #Ethereum‘s price dominance continues to surge against #Bitcoin‘s, now +22.4% in a week. During this stretch, there have been 89.4K new $ETH addresses created per day, and 96.3K wallets just yesterday. Additionally, the 2nd largest market cap asset’s supply on (Cont) \ud83d\udc47 pic.twitter.com\/9nHCl6PJPy \u2014 Santiment (@santimentfeed) January 16, 2024 Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":565452,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[134,428,6664,8323,1946,84307,78803,57231],"class_list":["post-570842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-altcoin","tag-bitcoin","tag-crypto","tag-eth","tag-ethereum","tag-ethereum-prediction","tag-ethusdt","tag-santiment"],"acf":[],"yoast_head":"\nEthereum Tipping Point: Analyst Warns Of Steep Drop To $2,000<\/title>\n<meta name=\"description\" content=\"Ethereum has recently become the center of attention, grappling with crucial market movements. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum\u2019s Tipping Point: Analyst Warns Of Steep Drop To $2,000","url":"http:\/\/uniquehot.com\/news\/ethereum\/ethereums-tipping-point-analyst-warns-of-steep-drop-to-2000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum\/ethereums-tipping-point-analyst-warns-of-steep-drop-to-2000\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Ethereum-Bullish-Outlook.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Ethereum-Bullish-Outlook.jpg?fit=900%2C600"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","bitcoin","crypto","eth","ethereum","ethereum prediction","ethusdt","santiment"],"dateCreated":"2025-01-23T03:00:57Z","datePublished":"2025-01-23T03:00:57Z","dateModified":"2025-01-23T03:00:57Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum\\u2019s Tipping Point: Analyst Warns Of Steep Drop To $2,000\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereums-tipping-point-analyst-warns-of-steep-drop-to-2000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereums-tipping-point-analyst-warns-of-steep-drop-to-2000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Ethereum-Bullish-Outlook.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Ethereum-Bullish-Outlook.jpg?fit=900%2C600\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"bitcoin\",\"crypto\",\"eth\",\"ethereum\",\"ethereum prediction\",\"ethusdt\",\"santiment\"],\"dateCreated\":\"2025-01-23T03:00:57Z\",\"datePublished\":\"2025-01-23T03:00:57Z\",\"dateModified\":\"2025-01-23T03:00:57Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Ethereum-Bullish-Outlook.jpg?fit=900%2C600","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/570842"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=570842"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/570842\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/565452"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=570842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=570842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=570842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}