Ethereum Price Falls to $3.8K, What's Next For ETH?
Are ETH traders turning bearish?
Hey Crypto Crusaders!
Ethereum (ETH) is buzzing with action—breaking $4,000, dropping 10%, and sparking debates! Dive in for key trends, challenges, and why long-term gains look unstoppable.
Ethereum Price Today: $3,695.65
Ethereum made impressive gains in November, climbing 22% monthly and 7% weekly. However, the asset dropped slightly to $3,938 after failing to sustain its position above $4,000. While profit-taking activities resulted in over $2.5 billion in realized profits, analysts are divided about what’s next for ETH coin.
Bearish Indicators Signal Potential Pullback
On-chain data shows signs of caution for Ethereum price prediction:
Decline in Network Activity
Daily Active Addresses (DAA) dropped by 64.17%, suggesting a lack of user engagement to support the recent price surge.Shortened Holding Times
Data from IntoTheBlock shows that ETH holding times have decreased since December 6, indicating short-term sell-offs.Increased Selling Pressure
The Cumulative Volume Delta (CVD) turned negative, meaning sellers outnumber buyers, putting pressure on Ethereum price.
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Ethereum Prediction: Long-Term Optimism
Despite short-term headwinds, analysts remain bullish on Ethereum’s future. Renowned crypto analyst Benjamin Cowen believes that the ETH/BTC pair shows signs of a recovery phase. Historically, Ethereum gains momentum in December and January, potentially setting the stage for a strong start to 2024.
Another bold Ethereum price prediction comes from the trader Venturefounder, who forecasts ETH could hit $15,937 by May 2025. This would mark a new ETH all-time high, pushing its market cap to $1 trillion.
Adding to the optimism, analyst Honey identified a "golden cross" on the 1-day chart, often a precursor to massive breakouts. He predicts a significant rally, describing it as a potential “giga pump.”
Ethereum ETFs: A Bullish Catalyst
Ethereum news today highlights the strong performance of ETH-focused exchange-traded funds (ETFs). Inflows into ETH ETFs have surpassed $1.17 billion since late November, with the BlackRock Ethereum ETF dominating the market. It recorded its highest-ever single-day inflow of $292 million, boosting demand for Ethereum-based derivatives.
Ethereum Price Prediction 2024 and Beyond
Ethereum’s growing on-chain activity is another positive sign. DApp volumes on Ethereum’s network reached $24.2 billion in seven days, narrowing the gap with Solana. Including Ethereum Layer-2 solutions like Polygon and Optimism, total volumes reached $48.6 billion—65% higher than Solana’s activity.
Although ETH has faced macroeconomic challenges, including global economic uncertainties and a slight dip in investor confidence, the overall sentiment remains optimistic. Analysts expect Ethereum price to continue its upward trajectory in 2024 and potentially hit new milestones by 2025.
The Ethereum price today reflects a mix of short-term caution and long-term optimism. With rising ETF inflows, increased DApp activity, and historical patterns supporting growth, Ethereum price prediction trends remain positive. While temporary pullbacks may occur, ETH seems well-positioned for a strong recovery and significant gains in the coming years.