Ethereum's current price remains in the range of $4,200-$4,500 amid declining demand. Some traders expect a drop to $3,500.
Market Sentiment Turns Negative
The price instability of Ethereum is contributing to a downturn in market sentiment. A decline in Bitcoin prices has further exacerbated this situation, leading many traders to actively sell their assets. According to Santiment, the surge in negative sentiment is reflected in 'sell calls', influencing expectations for ETH prices.
Traders' Sentiment
Spot trading volume for Ethereum has dropped by 85%, reaching $2.6 billion. This indicates waning interest from investors and lower confidence among traders about future growth. However, there are signs of easing selling pressure, which may suggest a potential revival of interest.
Price Predictions for ETH
Analysts suggest that the price of ETH could fall to the $3,600-$3,800 range before a possible rebound. Analysis indicates the presence of large liquidity clusters in this range, which may lead to price drops before potential recovery.
Current analysis shows that Ethereum faces numerous uncertainties, including declining trader interest and negative market sentiment. Potential price drops create risks but might also open opportunities for future growth.
