Analyst Predicts ETH Could Drop to $2,500 Based on Fractal Pattern
Ethereum (ETH) has shown resilience amid the recent market downturn, but analysts warn that this strength may not last. While Bitcoin (BTC) has struggled to stay above $90,000, ETH has managed to hold above $3,100. However, a familiar chart pattern has caught the attention of analysts, suggesting a potential drop in ETH’s price.
Fractal Pattern Analysis
Analyst DrBullZeus has identified a fractal pattern in ETH’s price chart that mirrors past movements. According to the analyst, if this pattern repeats, ETH could fall to around $2,500 before recovering and breaking above a key trendline. This pattern is similar to one seen earlier this year when ETH hit multi‑year lows around $1,500.
Contrasting Views
However, not all experts are bearish on ETH. Michaël van de Poppe, founder of MN Fund, predicts a volatile week ahead due to upcoming economic data from the United States and a potential rate cut by the Bank of Japan. He notes that ETH is currently outperforming BTC and suggests that the market focus may be shifting from Bitcoin to Ethereum.
Investor Sentiment
Crypto investor EliZ also shares a positive long‑term outlook for ETH. In a post to their 600,000 followers on X, EliZ states that Ethereum has historically rewarded investors who think in the medium to long term, especially during periods of poor market sentiment. They add that ETH often makes significant moves when least expected, typically when Bitcoin slows down and investor attention shifts.
Recent Price Movements
At the time of writing, ETH is trading above $3,100, while BTC is hovering around $89,000. Over the past week, ETH has slightly increased in value, while BTC has seen a 2% decline. This shift in performance may indicate a gradual rotation of capital from Bitcoin to Ethereum, as suggested by analysts.
Conclusion
In conclusion, while ETH has shown strength in the face of market turbulence, analysts are divided on its future performance. Some predict a potential drop based on chart patterns, while others see opportunities for growth, especially as market dynamics shift.
