Analyst Predicts Ethereum Price Will Crash To $3,000 – But There’s Good News

With the Ethereum price still trending below $4,000, bears are still in control of the cryptocurrency, making this an uncertain ￰0￱ decline below this major psychological level has no doubt caused turmoil for investors, and with no definite increase in price , it seems that the decline is destined to ￰1￱ is also highlighted by a crypto analyst, who explained that the Ethereum price might be destined for more decline, with a possible crash of more than 20%. Ethereum Price Eyes Drop To $3,000 In the analysis shared on the TradingView website, the analyst explains that it is more likely that the Ethereum price sees a decline before it sees another ￰2￱ comes as the price continues to weaken and the market capitulates in anticipation of when the next wave of action will ￰3￱ is expected to be a first small wave upward, that takes the price back toward the $2,400.

However, this would only be temporary before the bears step in again and the selling ￰4￱ the uptrend is broken and the decline begins, it is expected to be swift as the selling takes ￰5￱ analyst predicts that the Ethereum price would actually crash from above $4,100 and down to $3,000. In this case, it would mean an over 25% drop in the Ethereum price , breaking through multiple support levels, before finally finding its footing at $3,000. Nevertheless, $3,000 remains the bounce-off point for where the Ethereum price is expected to make its climb ￰6￱ this happens, then the crypto analyst sees the cryptocurrency actually making its way toward new all-time ￰7￱ Targets To Be Aware Of Following the bounce from the $3,000 level, the analyst expects that the first target for the Ethereum price would be to reclaim the resistance at $4,000.

It is the first point of interest for investors who would be looking to take ￰8￱ is the $4,500 resistance level that has been a major point of pain in the ￰9￱ the price crosses this level, then more profit-taking is advised, especially as the bears are expected to start making a bigger play for more impact. Lastly, the major target lies at the $5,500 ￰10￱ swing target would mean that the Ethereum price has made a new all-time high , making it a good time to actually start ￰11￱ this level is reclaimed, then the analyst expects the start of another bearish move.