Price Analysis View Non-AMP

Ethereum Price Analysis : ETH Price At Risk Of Dropping To $900 If History Repeats

Published by
Sohrab Khawas

Ethereum, like many altcoins, began the week in the red, experiencing a significant downtrend. The breach of its upward trendline added to the challenges, with the coin’s price showing resilience above the crucial $1600 support level. However, concerns have arisen as the price could potentially decline by 27% to $1,200, with another support at $1,366 likely to slow the fall.

Technical indicators are aligned with this bearish sentiment. The higher EMA 100 crossed beneath the lower EMA 50, a bearish signal. The daily chart further reveals a drop below $1,750 and the vital 200-day moving average at $1,800.

Analysts are expressing worries about ETH’s price trajectory, drawing parallels to a similar situation in 2019. A crypto analyst, Benjamin Cowen, highlighted the importance of a broken support line indicated by the Bull Market Support Band indicator. This scenario, reminiscent of four years ago, saw a 48% decline in ETH value over six months, followed by a gradual recovery.

Similarly, crypto analyst Ali Martinez foresees a significant drop if Ethereum falls below $1,550, projecting a 37% to 45% decrease to $1,000.

Despite the uncertainty, Ethereum’s outlook remains mixed. Vitalik Buterin’s transfer of $1 million worth of ETH to Coinbase and the Ethereum Investment Fund (ETF) may influence the market. The coin’s advanced mechanism system also holds potential. This leaves the market divided between bearish and bullish sentiments, while ETH is currently trading at $1,666.

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

Recent Posts

Ripple CEO Hints XRP Could Match Bitcoin’s Price

The crypto market is starting the week with a slight pullback. XRP is currently trading…

April 27, 2025

Altcoins Season Ready For A Major Comeback, Says Crypto Experts – Here’s When

Since 2021, the crypto market has been waiting for another explosive Altcoin season, where prices…

April 27, 2025

Pi Network News: Crypto Expert Predicts an Explosive Pi Coin Rally – In This Event

With the Pi network coin price has been consolidating between $0.53 to $9.69 over the…

April 27, 2025

Bitcoin Price Prediction Today: Next Target $130,000

Bitcoin is currently trading near a critical resistance zone around $94,250, a level known as…

April 27, 2025

Pi Network Suspension: Banxa Pulls Back on Pi Coin as Binance Listing Criteria Offer a Glimmer of Hope

After hitting a record low earlier this month, Pi has been trading between $0.60 and…

April 27, 2025

Was Jed McCaleb’s Exit from Ripple a ‘Breakup’ or a Brilliant Strategy? Find Out!

Jed McCaleb’s departure from Ripple in 2014 has long been the subject of speculation. Many…

April 27, 2025