- Ethereum recorded 15% and 30% weekly and monthly price drops.
- Trading analysts forecast Ether could crash to much lower price ranges.
The broader crypto market recovered slightly today with a 0.31% surge in overall market cap. While Bitcoin climbed above the $80K price range, Ether is trading above the $1,800 price level. The global macroeconomic conditions have been influencing the market ever since Trump’s administration began in the US.
Even though the crypto market witnessed a short bull run by the end of 2024, Ether couldn’t reach its estimated potential. Now, the weakening market momentum is further pushing the Ethereum price downwards.
ETH spot ETFs recorded a new outflow of $21.5709 million yesterday. While BlackRock’s Ethereum ETF has a net outflow of $11.82 million, Fidelity’s ETH ETF recorded a $9.75 million outflow in a single day.
Analyst Warns Upcoming Ethereum Price Crash
Renowned market analyst, Ali Martinez, posted today that the important support level for Ethereum is $1,887. At this price level, investors accumulated around 1.63 million Ethereum. However, Ether is trading at $1,864 at present, breaking past the $1,887 price level.
In one of his earlier predictions, Ali forecasted that Ether could fall to $800 in the next few days if it continues its current momentum. The prediction is making investors feel worried about their ETH holdings as panic spreads across the crypto market. Even the crypto fear and greed index records 21, indicating fear sentiment in the market.
Traders who purchased Ethereum at $3,000 and $4,000 price levels a few years back extremely disappointed with its market performance. On the other hand, the Pectra upgrade was delayed due to an unknown attack on the Sepolia network. Ethererum is facing huge pressure both on the market and development activity fronts for the past few months.
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