An expert claims that the recent Ethereum price crash was the last one and that the next phase includes an exponential bull rally that propels ETH to five digits. Amid the recent drop, whales seem to have accumulated Ether at a discount. Their buy-the-dip activity adds credence to a potential recovery rally.
Ethereum Price Prediction: Was ETH’s Recent Crash it’s Last Drop?
Immortal, a crypto analyst and influencer, posted to X that the 14.60% crash witnessed between December 16 and 20 was the “last dip ever.” In his post, the analyst compares ETH’s recent drop to the early 2024 crash and the exponential rally that followed. Based on the expert’s prediction, if Ether rhymes with this previous fractal, the next leg could put ETH’s value in the five-digit category.
ETH/USDT 12-hour chart
Ethereum Whales Accumulate 160,000 ETH
Regardless of whether this dip will be the last one or not, investors need to note that whales were busy buying ETH during the market turmoil. Data from Santiment shows that addresses holding between 10,000 to 100,000 ETH bought 160,000 between December 17 and 21.
This activity from large holders often signals confidence in the long-term outlook of the underlying asset, in this case, ETH.
President-elect Donald Trump Acquires $2.5M Worth of ETH
President-elect Donald Trump’s World Liberty Financial accumulated 759.361 ETH worth $2.5 million on December 20, on-chain data shows. This outlook aligns with the above mentioned bullish scenario. With such a strong demand for Ethereum, the drop could be short-lived.
Hence, investors looking to panic sell, should reconsider and wait for proper signals before offloading their holdings.
Will Ethereum Hit Five Digits?
According to popular analyst, Michaël van de Poppe, Ethereum price prediction for 2025 includes a target of $15,000 to $25,000 per ETH.
Another analyst Jelle noted that “all bets are off” if Ethereum’s fight with $4,000 ends with it as a support level.
Providing a much more detailed outlook is “venturefounder” who noted Ethereum consolidating between a three-year triangle. A breakout from this triangle could push ETH higher. Venturefounder’s target for Ethereum price is in the next seven years.
Additionally, according to Venturefounder, the base case includes Ethereum price repeating this impulsive breakout it did after between 2016-2017 to shoot to new ATH with a target of $15,937 by May 2025.
3 years of triangle consolidation for #Ethereum and $ETH could enter a new paradigm which it consolidated for the past 7 years.
Base Case: Ethereum likely to repeat this impulsive breakout it did after between 2016-2017 to shoot to new ATH.
Price Target: $15,937 by May 2025 pic.twitter.com/3iYZTjG6Lv
— venturefounder (@venturefounder) December 2, 2024
All in all, the long-term outlook for Ethereum price remains massively bullish with experts and analysts forecasting a five-digit target for ETH despite the recent crash.
The post Ethereum Price Last Crash Before ETH Hits Five Digits appeared first on CoinGape.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed