Ethereum, following the cryptocurrency market, has entered the red zone again, but some analysts see signs of potential upside.
Current State of Ethereum Market
Ethereum bulls faced another blow as the price dipped below $1,800, marking a significant 14% weekly decline. The negative market environment aligns with the drop in Relative Strength Index (RSI) to around 20, indicating a potential near-term reversal.
Ethereum Price Predictions
Ethereum has been one of the biggest disappointments of the latest bull cycle. However, some investors remain optimistic about a potential upward move if the price reclaims $2,000.
Potential Market Influences
Michael van de Poppe highlighted gold's successful quarter compared to Ethereum's performance. Upcoming tariffs by Trump could add more uncertainty to the markets.
While Ethereum's price remains in a bearish zone, the low levels may provide opportunities for long-term investors. Market participants should watch for potential shifts in price dynamics as events unfold.
