The Ethereum course had a turbulent week. After a short increase above $ 2,000, the digital currency crashed on the resistance around $ 2,100. That failed breakthrough led to a strong relapse: at the time of writing, ETH is around $ 1,850. However, according to analyst Cryptodo7, the soil has not yet been reached.
Technical analysis shows Beerarish signals
In a recent analysis on X, the analyst warns of disturbing signals in the daily ETH/USD graphic. The course of Ethereum has been in a downward trend for six months and recently broke under the bottom of the rising channel that remained intact most of 2023.
The cover began with the formation of a double top around $ 4,100 in 2024, a classic pattern that often points to trends. Since that moment the Ethereum price has fallen by more than 55%. Now that the coin fluctuates around $ 1,850, the question arises whether there is still room for recovery – or whether there is a further crash.
In any case, the analyst expects little good: he sees price goals around $ 1,200 looming. That would mean an extra decrease of more than 35% if this scenario comes out.
Macro economy also presses the course
Not only the technical indicators give a negative picture, the wider macroeconomic context is currently working at the time. For example, trading policy under President Donald Trump, in which importing rates are imposed worldwide, provides increasing uncertainty in the markets.
In addition, the US Central Bank (Federal Reserve) remains cautious about reducing interest rates. As long as there is no change in that, the negative sentiment around crypto – and Ethereum in particular – seems to keep.
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Source: https://newsbit.nl/ethereum-koers-zakt-hard-weg-analist-waarschuwt-voor-daling-naar-1-200/
