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Ethereum has fallen sharply in recent weeks.
The price of the currency fell from a level of over $3,000 to nearly $2,100 and remained at the bottom for several months, losing approximately 25% in a week.
Despite the strength of the decline, some analysts believe a final bottom has not yet been formed.
The analyst who goes by the name “CW” noted that the $2,100 level represents a strong buying area, while the first significant selling resistance area is located at $2,560, in case the price rebounds soon.
Ali Martinez made predictions based on the MVRV indicator. He explained that historically, Ethereum has bottomed when it fell below the 0.80 range, which may mean that if the same situation is repeated, Ethereum may fall below $2,000.
“Crypto Tony” shares a similar vision, arguing that the $2,000 level represents a major support level and a psychological hurdle that the price may test before a clearer release.
In his speech, the medium-term situation seemed shaky. A rapid rise to $3,600 is expected, followed by a decline to annual levels near $1,500, possibly by the summer of 2026.
However, the long-term weekly chart shows a more optimistic outlook, with the potential for a significant push above all-time highs above $6,000.
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