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ETH Ethereum is at a crossroads: rushing to $3,000 or plunging to $2,000?
In the past few days, the price of the world's second-largest cryptocurrency has been hovering around US$2,500. Some analysts predict that Ethereum (ETH) will break through this key resistance level and rise sharply to higher levels, while others remain cautious and believe that ETH may fall back to around $2,000 before starting a bull market.
Bullish View
According to analysis by X platform user Ted, ETH is once again attacking the resistance level of $2,550, and he expects the price to surge to $3,000 once the asset completes a strong weekly close above the region.
Michael van de Poppe makes a similar multi-faceted argument. He pointed out that if Ethereum tests the $2,520 area and starts to break through upwards, the price is expected to climb all the way to $3,000. At the same time, X platform user TRACER noticed that the asset has encountered resistance six times in the US$2,500 -2,550 range recently, but the rejection has weakened each time. "This resistance level will soon be broken," they predicted.
MikybullCrypto seems to be the most optimistic. The analyst believes that a nine-year-old trend line resistance is about to usher in a "super breakthrough", laying the foundation for prices to explode and hit a record high of $9,000.
Data on declining ETH stocks on exchanges also supports bullish theory. A few days ago, Ali Martinez disclosed that more than 116,000 ETH (worth nearly US$300 million) were withdrawn from the centralized platform in 48 hours. "As the supply of exchanges contracts sharply, the layout of major markets is becoming more and more interesting," he explained.
The analyst also highlighted the main support area around $2,475, where approximately 2.86 million ETH units had previously changed hands. "As long as this level is maintained, the path to $2,722 is relatively clear," Martinez said.
Growing institutional demand further strengthens bullish sentiment. Last week, spot ETH ETFs attracted nearly US$220 million in inflows, and cumulative total net inflows now exceed US$13.17 billion.
A callback is imminent?
X platform user Void claimed that ETH has formed an "inverted V-shaped head and shoulder bottom" shape on the daily chart, and a downward K line is needed to confirm this shape. Still, analysts expected prices to fall to $2,000 and said without this southerly dip,"we wouldn't be able to rise higher."
Gerla provides a similar perspective. The analyst pointed out the formation of the above structure and expected a correction to fall back to around $2,000 in the short term, followed by a strong reversal in the next few months, breaking through the $4,000 mark.
