As a seasoned crypto investor with a knack for navigating the volatile digital asset market, I find myself intrigued by these contrasting predictions about Ethereum‘s price trajectory. On one hand, Justin Bennett, whom I respect for his analytical acumen, suggests that ETH could potentially drop to $3,027 or even $2,560 by year-end. This, of course, is a stark contrast to his bullish outlook for 2025.
In a recent analysis, crypto analyst Justin Bennett provided insights into how low the Ethereum price could drop by the end of December. This came as the analyst revealed that buyers need to step or ETH could enter next week with a bearish outlook.
How Low Ethereum Price Can Go By Year-End
In a recent post on X, Justin Bennett posited that the price of Ethereum might fall to around $3,027 by the end of the year. Examining Ethereum’s daily chart, the analyst opined that for Ethereum to become bullish next week, it must first establish $3,541 as a support level. If this doesn’t occur, he cautioned that there’s a good possibility that Ethereum will decrease further. His accompanying graph indicated that if Ethereum were to lose the $3,027 support point, it could potentially drop down to as low as $2,560.
Previously in a post, a cryptocurrency analyst expressed optimism about Ethereum’s price forecast up until 2025. Yet, he emphasized that there is still work for buyers as they aim to regain $3,540 on the weekly chart to appear bullish in the coming week.
It appears that these purchasers might be getting involved, given the observed tendency of Ethereum’s large investors (whales) to amass ETH. According to Coingape, Ethereum whales are taking advantage of price drops as they anticipate a swift surge towards $4,000.
The whales (large investors) have taken out approximately 17,698 Ethereum, equivalent to around $61.66 million, from the cryptocurrency exchange Binance. Moreover, Donald Trump’s World Liberty Financial group has also been active in the DeFi sector, amassing additional ETH during this market downturn.
Correction Might Be Over
In a recent post, renowned crypto analyst Titan of Crypto expressed a more optimistic view about Ethereum’s price, suggesting that the downturn could potentially have ended. This bullish stance is derived from his interpretation of Ichimoku cloud analysis.
The prominent figure in the crypto world mentioned that Ethereum has recently been tested against its Tenkan and Kijun lines. Furthermore, he cautioned that a potential downside could involve another test at the Kumo Cloud Support Static Base (SSB), which is Ichimoku’s most robust line.
Based on an analysis from CoinGape, it’s possible that the current drop in Ethereum’s price could be its final dip before reaching five-digit figures. Experts believe that Ethereum’s value may reach approximately $15,937 by May 2025.
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2024-12-21 21:51