Ethereum Price Analysis: ETH Faces ‘Moment Of Truth’ After Crash Toward $3,000

Share This Post

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

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. 

Ethereum

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. 

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.

Ethereum

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Bitcoin Price Recovery Possible Above $85K—Will Bulls Step In?

Bitcoin price started a recovery wave above the $80,000 zone BTC is now rising and might aim for a move above the $84,000 and $85,000 levels Bitcoin started a decent recovery wave above the $80,000

Market Is Grossly Underestimating US Bitcoin Reserve, Expert Says Nations Will Follow

The market is grossly underestimating the US Strategic Bitcoin Reserve’s impact, an expert says, as it pressures institutions, nations, and wealth managers to adapt—or be left behind

Coinbase Approved to Launch in India—FIU Registration Secured

Coinbase is officially launching in India, securing FIU approval to offer crypto trading in one of the world’s fastest-growing markets Coinbase Gains Regulatory Approval to Operate in India Crypto

XRP Faces Bearish MVRV Crossover—Price Plunge To Continue?

On-chain data shows the XRP Market Value to Realized Value (MVRV) Ratio has just gone through a crossover that may not be positive for the asset’s price XRP MVRV Ratio Has Dropped Under Its

Is It Over For Dogecoin And Shiba Inu After Latest Crash? Machine Learning Algorithm Has Answers

After experiencing a massive price crash, Dogecoin (DOGE) and Shiba Inu (SHIB) continue to struggle to recover, currently trading at significant lows Despite this broader market downtrend, the

The Bitcoin Act: US Pushes for 1M BTC Reserve Without Taxpayer Cost

The US is pushing to establish a Strategic Bitcoin Reserve, with the BITCOIN Act of 2025 in the House and a Senate companion bill, aiming to acquire 1 million bitcoin in five years without taxpayer