Key Takeaways
- Ethereum (ETH) plummeted below $1,500, reaching its lowest level since 2013.
- The Relative Strength Index (RSI) nears oversold territory, hinting at a possible trend reversal.
- Analysts debate whether ETH will breach its previous bear market low of $881.
ETH Price Decline: A Deep Dive
Ethereum’s price has collapsed by 65% since December 2024, hitting a 763-day low of $1,411. This drop marks a breakdown from a long-term ascending parallel channel, signaling two critical insights:
- The recent price surge was likely a corrective phase (Wave A or X).
- Ethereum may now be in the final stages of its correction, with projections suggesting a potential low of $647 if historical patterns repeat.
📊 ETH/USDT Weekly Chart (Source: TradingView)
The weekly RSI sits at 30—close to oversold levels seen during past market bottoms (29 in 2022, 26 in 2020). This suggests Ethereum could be nearing the end of its downward trajectory.
When Will Ethereum Bottom Out?
Short-term analysis indicates Ethereum is in Wave 5 of a five-wave decline (orange count), with a projected bottom near $906 if Wave 5 mirrors Wave 1’s length. Daily RSI readings, while oversold, lack bullish divergences, implying further downside.
📉 ETH/USDT Daily Chart (Source: TradingView)
Critical Considerations:
- This cycle may mark the first time ETH breaks below its previous bull market lows.
- Both weekly and daily analyses align on continued downward pressure, potentially pushing ETH under $1,000.
FAQ Section
1. Is now a good time to buy Ethereum?
While RSI indicators suggest oversold conditions, the market remains volatile. Monitor for stabilization signals before entering.
2. What factors could reverse Ethereum’s downtrend?
Key catalysts include institutional adoption, protocol upgrades (e.g., Dencun), or broader crypto market recovery.
3. How low could Ethereum go?
Analysts project targets between $647 and $906, contingent on wave patterns and macroeconomic conditions.
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Conclusion
Ethereum’s crash reflects broader market turmoil, but oversold RSI levels and corrective wave counts hint at an impending reversal. Traders should watch for confirmation of a bottom before making moves.
📌 Pro Tip: Use dollar-cost averaging (DCA) to mitigate risk during high volatility.
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Disclaimer: This content is for informational purposes only. Consult a financial advisor before investing.
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