Ethereum's Rocky Road: Analysts Divided on Price Future Amidst Volatility

Ethereum's price is currently navigating a complex market landscape, with analysts offering a mixed outlook. While some short-term indicators might suggest bullishness, the broader trend remains under scrutiny, with potential for significant volatility ahead. Investors are closely watching key support and resistance levels as the cryptocurrency faces a period of uncertainty.

Key Takeaways

• The overall trend for Ethereum remains bearish on higher timeframes, despite some short-term positive signals.

• Analysts are divided, with some predicting a potential bottom and a path to $15,000, while others foresee a further drop towards $600.

• Key support levels around $1,700-$1,800 are being closely monitored, with a break below potentially signaling deeper corrections.

• Network activity has increased, but this has not yet translated into sustained price gains, indicating potential indecision or panic selling.

Navigating the Inverted Chart and Bearish Trends

Some analysts observe that bullish signals for Ethereum only appear on an inverted chart, suggesting that the standard view still indicates an intact downtrend. Until key resistance levels are reclaimed, optimism remains conditional. This perspective highlights a distribution phase followed by consistent breakdowns since a previous peak, with a parabolic curve acting as a significant indicator of the ongoing bearish trajectory. The immediate focus is on consolidation zones, with potential scenarios including continuation after a shallow pullback or a brief fake breakdown followed by a reclaim.

Potential Price Targets and Scenarios

Short-term profit-taking targets are being eyed around $1,700, with a more extended target near $1,400. However, these setups could be invalidated if Ethereum loses key support zones. Conversely, a more optimistic, albeit long-term, view suggests a potential path to $10,000-$15,000 by 2028-2029, contingent on a significant market reset and capitulation event. This scenario would involve a substantial price crash, potentially down to $600, followed by a prolonged accumulation phase and eventual expansion.

Market Correction and Support Levels

Ethereum, along with Bitcoin and Ripple, is extending losses, with ETH falling below the $1,900 mark. If Ethereum closes below the $1,747 consolidation range on a daily basis, a decline towards the $1,669 support level could occur. The Relative Strength Index (RSI) indicates bearish momentum, while the Moving Average Convergence Divergence (MACD) lines suggest indecision among traders. A recovery could see advances towards the upper consolidation range at $2,149, but the overall structure remains bearish unless significant resistance levels are reclaimed.

On-Chain Activity and Future Outlook

Recent on-chain data reveals a spike in network activity, with active addresses surging. Historically, such increases have preceded periods of heightened volatility and significant price moves. However, this elevated engagement has not yet confirmed a bullish reversal, suggesting that capital flows are not decisively pushing prices higher. This divergence might indicate panic selling by weaker hands. Sustained elevated activity coupled with price stabilization could form a constructive base, but a clear break above key technical resistance levels is needed for confirmation.

Sources

• Ethereum Price Looks Bullish, But Only On The Inverted Chart — TradingView News, TradingView.

• Ethereum Up or Down - 5 Minutes Predictions & Odds, Polymarket.

• Bitcoin, Ethereum, Ripple – BTC breakdown hints at deeper correction as ETH and XRPextend losses, FXStreet.

• Analyst Predicts The Ethereum Price Bottom With A Marked Path To $15,000 — TradingView News, TradingView.

• Vital Support or Value Trap? Decoding ETH’s Next Big Move, CryptoPotato.