Why Ethereum Price is Crashing?

The Ethereum price is continuing its downward trend, aligning with the broader negative market sentiment. As Bitcoin hovers around the $95k level, Ethereum (ETH) is struggling to regain momentum. However, market experts remain optimistic about the Ethereum price’s potential bullish rally, destined to reach new all-time highs.

Notably, the crypto market is once again on a bearish track, with the total market cap sliding to $3.13 trillion, down by 2.26%. Top 15 cryptocurrencies, including Ethereum, XRP, Solana, and BNB have experienced massive declines over the last seven days.

Ethereum Price Continues to Fall: What’s Next?

According to an X post shared by crypto enthusiast Crypto Fella, Ethereum is “heavily undervalued.” Despite the Ethereum price’s continuous descending journey, Crypto Fella remains confident about the token’s hike. The analyst stated, “Patience will be rewarded.” The daily chart presented by Crypto Fella indicated that Ethereum’s surge past $3,500 is imminent.

CryptoHotep, a crypto trader, noted Ethereum’s possible growth to around $3200 in the short term. Meanwhile, Moralis, an analytics platform, has made a bold prediction that Ethereum’s price could skyrocket to the highly anticipated $7k level. According to the platform, Ethereum will hit $7,340 or even higher in 2025.

Is Ethereum’s Journey to $20k Possible?

In a recent analysis, the crypto influencer known as X as Cryptosahintas shared an ambitious target for the Ethereum price. The analyst identified ETH’s key support and resistance levels since 2017. While the analyst highlighted ETH’s current price level as a critical support zone, the rally past the mark could boost Ether to a breathtaking high of $20,000.

Ethereum’s bullish prediction is further bolstered by Michael van de Poppe’s analysis of the crypto market. As per van de Poppe, altcoins including Ethereum could witness a remarkable upswing, primarily driven by Trump’s ETH acquisition.

Hong Kong Recognizes BTC and ETH as Valid Assets

Reportedly, Hong Kong has accepted Bitcoin and Ethereum as valid proof of assets for investment immigration applications. While the development underscores the city’s increasing affinity towards cryptocurrencies, it signals both tokens’ significant market moves.

Despite the prevailing crash, both Bitcoin and Ethereum have shown signs of recovery following the pivotal moment. Though ETH is trapped in a low-point zone, there are speculations that the token will have a 3x increase in the year.

2024 vs 2025: Will History Repeat?

The Ethereum price currently stands at $2,619.57, having dropped 2.85% over the past 24 hours. Looking at the broader picture, ETH has experienced a significant decline of 19.4% over the past week and 22% over the past month.

Entrepreneur Ted drew a parallel between Ethereum’s trajectory in 2024 and its projected path in 2025. At the onset of 2024, ETH stood at $2.1k. After retesting major levels, Ethereum pumped 100% just within six weeks. This comparison signals the Ethereum price’s possible jump in the coming weeks.