Cryptocurrency analysts predict Ethereum’s drop by 14%

Despite the recent 9% rise in the price of Ethereum ETH $2,768.51 Bridged Ether (StarkGate) -1.01% Market capitalization $0.16 billion VOL. 24 hours $2.35 billion , analysts warn of risks and the need to overcome key resistance levels to confirm the bullish trend. They believe that the $ 2,750 area remains critical for a further breakout.

Crypto expert Ali Martinez noted that Ethereum has already tried to break through $ 2,750 several times, but to no avail. On the 4-hour chart, the price has been consolidating in the $ 2,380-$ 2,750 horizontal channel for several weeks. If Ethereum fails to gain a foothold above $ 2,750, it may fall to the $ 2,500 or even $ 2,380 support.

Another analyst, Crypto Caesar, confirmed this picture, calling $ 2,700-$ 2,750 a «red resistance zone.» If this zone is broken through, there will be a chance for the so-called «alt-season» to begin, which is the active growth of altcoins. However, if this does not happen, the price may roll back.

Peter Brandt added that Ethereum has already tested $ 2,700 several times in May. He noted that the price is holding above $ 2,390, which strengthens the triangle on the chart. At the same time, the ADX index for ETH is currently at 22.7, which is below 25, which means that the trend is weak and the market is still in a consolidation phase.

Brandt predicts that if the triangle breaks through, Ethereum could rise to $ 4,000 (almost 48% of the current level). But if the support breaks, the price could fall to $ 2,150.

Overall, although Ethereum is currently trading above $ 2,660 and investor interest is growing, analysts warn that a sustained close above $ 2,750 is needed to confirm the bullish momentum. Otherwise, the risks of continued consolidation or a pullback remain high.