Ethereum’s price has struggled to reclaim the critical $3,000 level over the past 48 hours, raising concerns about potential declines in the cryptocurrency’s value if this necessary support level is not regained by the end of the week.
The analyst predicts further declines
Market analyst Ted Pillows he noticed on social media platform X (formerly Twitter) that without a quick recovery above $3,000, Ethereum may face further downward pressure, likely to fall to the $2,800 level in the near term.
This scenario would indicate an additional retracement of approximately 5% from the current trading price, which is hovering just above $2,940. This ongoing struggle contributes to the 16% decline recorded month-over-month, highlighting the precarious situation for broader cryptocurrency prices.
Another analyst, Columbus, tried to understand Ethereum’s destitute performance compared to Bitcoin (BTC). He noted that Ethereum continues to trade below its volume-weighted average price (VWAP) as it struggles to gain traction above this critical metric.
The bounce seen in the $2,800 to $2,850 range appears to be more responsive than impulsive, according to the analyst, suggesting that while there is buying interest, upside confidence remains feeble.
Columbus on he noticed that there is a significant liquidity overhead, especially in the $3,050 to $3,250 zone. This liquidity effectively limits any attempts to raise prices.
Unless Ethereum reclaims this area and achieves consistent acceptance above it, the upside moves will likely be more about short-term rotations towards supply rather than true trend continuation.
On the other hand, failure to sustain the $2,850 level could expose Ethereum to deeper losses, potentially leading to a downturn towards lower levels. liquidity levels between $2,400 and $2,700, where most of the liquidity is concentrated.
Will Ethereum Fall to $1,300 in 2026?
Looking further ahead, market expert CryptoBullet painted a bleaker picture of Ethereum’s potential trajectory into 2026. introduced a novel fractal model for Ethereum that suggests bearish results for investors expecting a bull market next year.
In a social media post, CryptoBullet presented a daily chart of Ethereum, outlining key price targets and pointing out that while there may be a price rebound in January and February, there could be a significant decline in the following months.
According to this analysis, Ethereum’s brief recovery may be weakened compared to the existing one resistance levels between $3,600 and $3,800, which could end in a dramatic drop to the target price of $1,385.
If this fractal model mimics Ethereum’s performance in 2022, it could mean a staggering 63% decline in the value of the leading altcoin.
Featured image from DALL-E, chart from TradingView.com
