A crypto expert has shared her macro prediction for Ethereum, warning of an imminent price crash that could see the second-largest cryptocurrency plummet to as low as $800, or even $400 per coin. While this would signify a significant bearish shift considering ETH’s current valuation, the analyst contends that such a downturn is crucial for a market recalibration, allowing prices to uncover genuine demand and stable support. Rafaela Rigo has delivered an intriguing Ethereum price analysis on X that has captivated the interest of traders and investors alike. Rigo presented a chart analysis from 2024, where she precisely forecasted that the Ethereum price would drop to $1,900 following the formation of a bull run top in that cycle. That same analysis had also forecasted a price drop to $800, a level the analyst identified as a “great buying opportunity.”
Notably, Rigo has now updated the 2024 chart analysis to predict Ethereum’s next move this cycle. She has confidently predicted that ETH’s price might plummet to $800 amid the current bear market. With the cryptocurrency currently trading above $2,100, a drop to that level would signify a staggering loss of over 61%. Taking an even more bearish stance, Rigo stated that an extended price drop to $400 was still on the table for Ethereum, especially if the cryptocurrency is unable to contain its bearish momentum. If ETH falls to this level, it would mark a historic low, pushing the second-largest cryptocurrency back to levels not seen since 2019. Rigo highlighted in her analysis that she had earlier characterised the 2024 cycle as catabolic, and anticipates that the ongoing cycle will mirror this trend. She remarked that although $800 would represent a challenging decline, it was essential for an appropriate market reset.
The analyst highlighted that the crypto market urgently requires this reset to eliminate the influx of poor projects that are continuously emerging in the space. She also highlighted that numerous new crypto projects are essentially pump-and-dump schemes, which have negatively impacted sentiment and led to a considerable number of investors leaving the market. Rigo notably characterised her forecast as a “macro price prediction,” emphasising that it would require time for all elements to develop as expected. In the meantime, she emphasises the importance for investors and traders to stay alert, closely observe market fluctuations, and steer clear of emotional trading.
Market expert Ted Pillows has shared a new Ethereum price analysis, expressing caution over the cryptocurrency’s recent price action and a Bear Flag formation. Pillows cautioned that this Bear Flag could lead to severe repercussions for ETH’s price. At the time of writing, the cryptocurrency is positioned above $2,100 after enduring weeks of bearish pressure and volatility. Despite this resilience, Pillows cautioned that if ETH fails to hold above $2,100, “things could get ugly.” He has forecasted a possible price drop to $1,960, indicating a significant decrease of over 6% from current levels.