Ethereum price has struggled to reclaim the critical $3,000 mark over the past 48 hours, sparking concerns about a potential decline in the cryptocurrency’s value if this critical support level is not regained by the end of the week.
Analyst predicts further decline
Market Analyst Ted Pillows underlines on social media platform
This scenario would indicate a further retracement of approximately 5% from its current trading price, which sits just above $2,940. This continued struggle comes on top of the 16% decline recorded in the monthly period, highlighting the precarious situation of cryptocurrency prices more broadly.
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Another analyst, Columbus, sought to understand Ethereum’s lackluster performance compared to Bitcoin (BTC). He noted that Ethereum continues to trade below its volume-weighted average price (VWAP), struggling to gain ground above this critical metric.
The bounce seen between $2,800 and $2,850 appears more reactive than impulsive, in the analyst’s words, suggesting that while there is buying interest, conviction in the rally remains low.
Columbus further REMARK that there is considerable liquidity, especially in the $3,050-$3,250 area. This liquidity has managed to limit any attempt to drive up prices.
Unless Ethereum can reclaim this area and gain consistent acceptance above it, upward moves will likely be more about short-term rotations into supply than true continuation of the trend.
On the other hand, failing to maintain the $2,850 mark could expose Ethereum to greater losses, which could lead to a slowdown towards the downside. liquidity levels between $2,400 and $2,700, where most of the liquidity is concentrated.
Will Ethereum fall to $1300 in 2026?
Looking further into the future, market expert CryptoBullet painted a bleaker picture of Ethereum’s potential trajectory for 2026. He introduced a new fractal pattern for Ethereum that suggests bearish outcomes for investors anticipating a bull run next year.
In a social media post, CryptoBullet presented a daily chart of Ethereum, outlining key price targets and indicating that while a price recovery could occur in January and February, the following months could see a significant slowdown.
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According to this analysis, Ethereum’s brief recovery could falter compared to resistance levels between $3,600 and $3,800, potentially leading to a dramatic decline to a target price of $1,385.
If this fractal pattern mimics Ethereum’s performance in 2022, it could mean a staggering 63% drop in the leading altcoin’s value.
Featured image of DALL-E, chart by TradingView.com
