Ethereum’s Price Plunge: Is It Following BlackBerry to Oblivion? 🤔📉

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Well now, gather ’round, folks! It seems our dear Ethereum is teetering on the precipice of what some might call a financial “death.” Historical charts are whispering sweet nothings about its fate, suggesting it might just be following in the footsteps of that once-mighty BlackBerry. You see, the ETH price chart against Bitcoin and Ripple (XRP) bears a striking resemblance to BlackBerry’s tumble against Apple back in the early 2000s. Oh, the irony! So, how low can this digital darling go? Let’s dive into this murky water, shall we? 🏊‍♂️

BlackBerry & Apple Charts Hint At Dire Ethereum Price Future

Now, if we take a gander at the Ethereum price chart against its top competitors, like Bitcoin and XRP, it’s clear that ETH is in a bit of a pickle. The altcoin has breached the lower trendline of the symmetrical triangle pattern on the ETH/BTC and ETH/XRP charts. And let me tell you, that’s not a good sign! 😬

This pattern mirrors the sad saga of BlackBerry, which, as Apple was busy gobbling up market share, found itself in a downward spiral. Once BB/AAPL broke out of that symmetrical triangle, it was lights out for BlackBerry. Never to recover, I tell you! 📉

If Ethereum decides to follow suit, we might be looking at a major price drop. And just to add salt to the wound, ETH is about to close one of its worst Q1s in history, with monthly drops that would make a grown man weep. With a selling spree that could rival a yard sale, ETH might just be on the ropes. 🥊

So, as we ponder the historical patterns hinting at a bearish Ethereum price prediction, the question remains: how low will it go? 🤔

ETH/BTC Faces Another 30% Drop As XRP/ETH Hits 5-Year High

Now, let’s talk about Bitcoin, that old stalwart. Its rising dominance and institutional interest are weighing heavily on Ethereum’s price like a sack of potatoes on a poor mule. ETH/BTC has plummeted to 0.02287, the lowest it’s been since early 2021. Talk about a fall from grace! 😱

ETH/BTC might be gearing up for another drop, having formed a rounding top pattern that suggests the trend has flipped from bullish to bearish. If this keeps up, we could see ETH drop to a neckline of $0.016. Yikes! 😳

Meanwhile, XRP/ETH has surged to 0.00125, its highest level since March 2020. This follows a massive XRP price rally in late 2024. As institutional interest in Ripple rises, it seems this altcoin is leaving Ethereum in the dust. 🏃‍♂️💨

One of the culprits behind Ethereum’s underperformance against Bitcoin and XRP is a distinct lack of demand from institutions. Data from SoSoValue shows that in the last three weeks, Spot ETH ETFs have seen a staggering $598M in outflows. As this demand dwindles, ETH’s price will continue to face challenges. 🥴

Crowd Sentiment on Ethereum Plummets – Bullish or Bearish?

Now, let’s take a peek at the crowd sentiment on Ethereum, which has taken a nosedive. Traders are feeling as fearful as a cat in a room full of rocking chairs. However, according to the on-chain analytics platform, this very sentiment might hint at a potential breakout. Who knew fear could be so optimistic? 😅

Historical trends show that when the market sentiment is as gloomy as a rainy day, it often triggers a recovery for Ethereum’s price. If this drop marks a local bottom, we might just see ETH rise like a phoenix from the ashes, possibly leading to a bullish reversal.

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2025-03-15 14:25