The ETH (Ethereum), a cryptocurrency that comes second in terms of trading volume, gets increasingly difficult to track with other major coins. Unlike some other digital assets hitting new all-time high ETH has been declining ever since trying to step above $4000. A lot of traders today are wondering what the next step is for Ethereum.
According to Mags, a well known crypto analyst, Ethereum’s current price chart is its worst ever chart. The coin has attempted to pass over $4,000 a few times but has been unsuccessful each time. The price has dropped even greater after each failure. Based on the momentum, ETH has scope to drop down to $1,060 if the trend is to continue. However, on the bright side ETH surpassing $2500 seems likely and allows ETH with an additional chance in busting the mark of $4000.
Meanwhile, Jonathan Carter, another expert, has noticed a pattern in the chart of ETH which could denote a breakout. He thinks that if Ethereum can move past its resistance level, the price can head to targets at $1,962, $2,143, $2,320 and even $2,530. However, there has to be a big spike in buying activity before this will take place.
#ETH
— Jonathan Carter (@JohncyCrypto) March 15, 2025
Ethereum is trading within a descending channel formation on the 2H timeframe🔍
Price is approaching the upper resistance trendline suggesting potential breakout opportunity🤔
A successful break above resistance could drive price towards targets at $1,962, $2,143, $2,320… pic.twitter.com/icSYUNLbTV
Ethereum is currently at a tipping point. If it keeps dropping, prices might fall even further. If it manages to sustain strength, it could bounce back. Traders and investors are keeping a close eye on the next move from ETH.
Also read: Bitcoin Price to Rise? Experts Eye $250K as Fed Prepares Rate Cuts
