Ethereum Surges Above $3,500 but Analysts Predict Bad Road Ahead

Cryptoticker2024/12/25 08:00

By: crypto newsRudy Fares

Ethereum’s price has made an impressive recovery, climbing over 4% in just 24 hours to surpass the $3,500 mark. This comes after a steep correction that saw prices fall from $4,000 to a solid support level around $3,100. While the entire crypto market gained 3% during this rebound, Ethereum has outperformed, raising questions about what’s next for this leading cryptocurrency.

Ethereum Price Recovery After a Heavy Correction

After reaching a peak of $4,000, Ethereum’s price faced a significant correction, falling to $3,100. This strong support area allowed the cryptocurrency to bounce back quickly, gaining over 4% in just one day. Ethereum's rise has outpaced the broader crypto market recovery, highlighting its resilience.

Analysts Warn of a Potential Crash

Despite this recovery, analysts remain cautious about Ethereum’s near future . Many believe the current bullish cycle is nearing its end and anticipate a potential market-wide crash. Reduced trading volume and increasing market uncertainty could signal another sharp downturn.

Ethereum Price Prediction for the Short Term

In the short term, Ethereum may revisit $3,000 if trading momentum weakens. Analysts predict potential further declines to $2,800 and $2,500 if selling pressure intensifies.

ETH/USD 4-hours chart - TradingView

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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