{"id":607182,"date":"2024-05-09T21:00:19","date_gmt":"2024-05-09T21:00:19","guid":{"rendered":"https:\/\/uniquehot.com\/?p=607182"},"modified":"2024-05-09T10:53:35","modified_gmt":"2024-05-09T10:53:35","slug":"ethereum-price-drop-to-2500","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-drop-to-2500\/","title":{"rendered":"Crypto Analyst Says Ethereum Price Will Drop To $2,500, Here\u2019s Why"},"content":{"rendered":"

The Ethereum price has been closing mirroring the performance of Bitcoin recently and since the Bitcoin price<\/a> has been on a downtrend, the ETH price has followed. However, Ethereum on its own seems to possess more bearish fundamentals<\/a> compared to Bitcoin, leading crypto analysts to believe that the second-largest cryptocurrency by market cap will fall further from here.<\/p>\n

Ethereum Poised To Crash Further<\/h2>\n

A crypto analyst known as Shin Forex took to the TradingView website to share<\/a> an interesting analysis of the Ethereum price. The analysis, which focused on the ETH\/BTC chart, unveiled some concerning developments in the ETH price.<\/p>\n

Related Reading: Fundstrat CEO Predicts When Bitcoin Price Will Reach $150,000 And $500,000<\/a><\/div>\n

The analyst explained that during this time, the liquidity in Ethereum has been dwindling. Instead of flowing toward altcoins like ETH<\/a>, it is instead flowing toward Bitcoin<\/a>. This suggests growing disinterest in Ethereum from investors and as liquidity flows to Bitcoin, Ethereum has nothing propping it up at this time.<\/p>\n

Furthermore, the crypto analyst explains that the ETH\/BTC pair has now broken below its support of 0.05. Now, this drop below its support level is important given what has happened each time that it broke. Shin Forex points back to the last two market cycles, one in 2016 and one in 2019, of the ETH<\/a>\/BTC breaking below its support.<\/p>\n

Both times that this has happened, a crash in the price has followed, before it can rally again. The crypto analyst does not expect this time to be any different and believes that ETH\/BTC<\/a> will fall below 0.04. If this happens, it will send Ethereum spiraling<\/a> and the analyst has set a price target of around $2,500 for this.<\/p>\n

Can ETH Price Survive The Crash?<\/h2>\n

In the short term, the Ethereum price doesn\u2019t look to good, especially as the altcoin<\/a> is currently trending downward inside its current channel, according to the crypto analyst. However, zooming out to the larger timeframe can help give an inkling of how the ETH price could perform after the crash.<\/p>\n

Looking at Shin Forex\u2019s chart of the last two times that a formation like this occurred, it has also set a precedent for money to flow back into Ethereum. In November 2016, the price had crashed but in a few months, there was a massive recovery as ETH<\/a>\/BTC rose to a new all-time high.<\/p>\n

\"Ethereum\"<\/p>\n

Source: TradingView.com<\/pre>\n
A similar thing happened the next time in 2019, with the crash coming ahead of a market rally, albeit a bit slower at this time. So, if this trend holds, then the ETH crash is inevitable. However, a recovery is expected <\/a>that will likely kickstart the beginning of another massive rally.<\/p>\n
Related Reading: Cardano Entry Of A Lifetime: Analyst Predicts 5,600% Rally To $25<\/a><\/div>\n
For now, bears continue to dominate the Ethereum market<\/a> and have successfully dragged the price down below $3,000. It is trading at. $2,975 at the time of this writing, with a small 0.36% decline in the last day, according to Coinmarketcap.<\/p>\n
\"Ethereum<\/p>\n
ETH price falls below $3,000 | Source: ETHUSD on Tradingview.com<\/a><\/pre>\n
Featured image from Quora, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The Ethereum price has been closing mirroring the performance of Bitcoin recently and since the Bitcoin price has been on a downtrend, the ETH price has followed. However, Ethereum on its own seems to possess more bearish fundamentals compared to Bitcoin, leading crypto analysts to believe that the second-largest cryptocurrency by market cap will fall further from here. Ethereum Poised To Crash Further A crypto analyst known as Shin Forex took to the TradingView website to share an interesting analysis of the Ethereum price. The analysis, which focused on the ETH\/BTC chart, unveiled some concerning developments in the ETH price. Related Reading: Fundstrat CEO Predicts When Bitcoin Price Will Reach $150,000 And $500,000 The analyst explained that during this time, the liquidity in Ethereum has been dwindling. Instead of flowing toward altcoins like ETH, it is instead flowing toward Bitcoin. This suggests growing disinterest in Ethereum from investors and as liquidity flows to Bitcoin, Ethereum has nothing propping it up at this time. Furthermore, the crypto analyst explains that the ETH\/BTC pair has now broken below its support of 0.05. Now, this drop below its support level is important given what has happened each time that it broke. Shin Forex points back to the last two market cycles, one in 2016 and one in 2019, of the ETH\/BTC breaking below its support. Both times that this has happened, a crash in the price has followed, before it can rally again. The crypto analyst does not expect this time to be any different and believes that ETH\/BTC will fall below 0.04. If this happens, it will send Ethereum spiraling and the analyst has set a price target of around $2,500 for this. Can ETH Price Survive The Crash? In the short term, the Ethereum price doesn\u2019t look to good, especially as the altcoin is currently trending downward inside its current channel, according to the crypto analyst. However, zooming out to the larger timeframe can help give an inkling of how the ETH price could perform after the crash. Looking at Shin Forex\u2019s chart of the last two times that a formation like this occurred, it has also set a precedent for money to flow back into Ethereum. In November 2016, the price had crashed but in a few months, there was a massive recovery as ETH\/BTC rose to a new all-time high. Source: TradingView.com A similar thing happened the next time in 2019, with the crash coming ahead of a market rally, albeit a bit slower at this time. So, if this trend holds, then the ETH crash is inevitable. However, a recovery is expected that will likely kickstart the beginning of another massive rally. Related Reading: Cardano Entry Of A Lifetime: Analyst Predicts 5,600% Rally To $25 For now, bears continue to dominate the Ethereum market and have successfully dragged the price down below $3,000. It is trading at. $2,975 at the time of this writing, with a small 0.36% decline in the last day, according to Coinmarketcap. ETH price falls below $3,000 | Source: ETHUSD on Tradingview.com Featured image from Quora, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":607200,"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":[167,6664,26263,14690,8323,89213,16163,1946,7931,6931,8686,78803],"class_list":["post-607182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-eth","tag-eth-news","tag-eth-price","tag-ethereum","tag-ethereum-news","tag-ethereum-price","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nCrypto Analyst Says Ethereum Price Will Drop To $2,500, Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"The Ethereum price has been closing mirroring the performance 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Analyst Says Ethereum Price Will Drop To $2,500, Here\u2019s Why","url":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-drop-to-2500\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-drop-to-2500\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Ethereum-.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Ethereum-.jpeg?fit=602%2C399"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","crypto","crypto analyst","crypto news","eth","eth news","eth price","ethereum","ethereum news","ethereum price","ethusd","ethusdt"],"dateCreated":"2024-05-09T21:00:19Z","datePublished":"2024-05-09T21:00:19Z","dateModified":"2024-05-09T21:00:19Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Analyst Says Ethereum Price Will Drop To $2,500, Here\\u2019s Why\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-price-drop-to-2500\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-price-drop-to-2500\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Ethereum-.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Ethereum-.jpeg?fit=602%2C399\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"crypto\",\"crypto analyst\",\"crypto news\",\"eth\",\"eth news\",\"eth price\",\"ethereum\",\"ethereum news\",\"ethereum price\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2024-05-09T21:00:19Z\",\"datePublished\":\"2024-05-09T21:00:19Z\",\"dateModified\":\"2024-05-09T21:00:19Z\"}<\/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\/2024\/05\/Ethereum-.jpeg?fit=602%2C399","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/607182"}],"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\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=607182"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/607182\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/607200"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=607182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=607182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=607182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}