Ethereum's price has dropped below the critical $2,000 mark, sparking concerns among traders. While some analysts find hope in whale accumulation and real-world asset growth, others foresee further decline.
Ethereum Price Decline
Ethereum, a significant cryptocurrency, has fallen below $2,000 again and is currently trading at $1,991. This occurred after a short upward trend when large holders intervened. The cryptocurrency is losing a level it has held since October 2023, prompting renewed concern. Recently, Standard Chartered revised its 2025 Ethereum price forecast, lowering it from $10,000 to $4,000. This indicates a more cautious outlook for the cryptocurrency's prospects.
Cryptocurrency Market Challenges
Ethereum faces selling pressure as its price remains below $1,900. A drop below $1,850 could trigger panic selling. Research firm IntoTheBlock highlighted a critical demand zone between $1,843 and $1,900, where 3.56 million ETH are concentrated. However, analysts warn that if Ethereum falls below this range, a sharp decline could follow due to weak demand at lower levels.
Long-term Prospects and Hopes
Despite current market challenges, some analysts maintain confidence in Ethereum's long-term prospects. Santiment data shows that large holders continue to accumulate, adding 420,000 ETH in recent days. Additionally, the rapid expansion of real-world asset tokenization is emerging as a crucial growth factor. Hitesh Malviya, founder of DYOR crypto, suggests that 'it is not a great time to be bearish on ETH,' noting Ethereum's dominance in this space.
While Ethereum remains under pressure, long-term trends suggest a potential rebound. In the coming months, investors will closely watch whether ETH can reclaim lost ground or continue its downward trajectory.
