Altcoin
Can Ethereum Price Sink To $1,000 After Drop Below $2000
Ethereum price briefly dipped under $2,000 for the first time in over a year as on-chain data points to a gloomy future. Pundits say Ethereum could be on a death march toward $1,000 in a steep decline that has left speculators scratching their heads.
Ethereum Price Could Be Headed To $1,000
Ethereum (ETH) woes appear to be worsening following a dip in prices below $2,000 since December 2023. Ethereum price touched $1,996 before staging a valiant climb back to $2,135, triggering concerns over its future direction.
On-chain data is grim for the largest altcoin with several indicators pointing toward a downward trend. Ethereum’s weekly RSI is at its lowest ebb for the first time since 2022 at 35.84. Similar RSI levels in 2022 saw the asset price fall even further by a staggering -60%.
Analysts say that the Ethereum price could fall to $1,000 given similar market conditions in 2022. The slip below $2000 follows an earlier dip below $2,200, leaving its parallel channel which experts say could induce correction to $1,600.
Ethereum’s triple-top pattern in its weekly chart is indicative of a 60% decline as bears have a field day. A 60% decline at current levels will see Ethereum price dip below the $1,000 mark.
Ethereum Is On Course To Record Its Worst Q1
The largest altcoin has endured a wave of negative sentiments since the start of 2025. Ethereum price has fallen by nearly 40% from its high of $3,300 at the start of the year.
A drop to $1,600 will see Ethereum record its worst Q1 performance, dwarfing the lows of the first quarter of 2024. US Ethereum ETFs recorded massive outflows while ETHA share price shed 38.59% since the start of the year.
While institutional interest around ETH sinks, the asset’s proposed inclusion into the US Crypto Strategic Reserve did little to stave off the massive decline. Despite the grim outlook, some pundits say the decline presents a buying opportunity for long-term investors.
“We are going into the undervaluation zone,” said the pseudonymous Venturefounder on X (formerly Twitter).
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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