eth/ethereum-price-climb-3550/” rel=”nofollow noopener” target=”_blank”>ethereum (eth)The world's largest altcoin, has recently been in a significant downtrend, with its price falling below the $3,000 mark. However, analysts see this downtrend and the falling eth price as a buying opportunity, anticipating a bitcoin-rebounds-past-56000-ethereum-over-2500-key-factors/” rel=”nofollow noopener” target=”_blank”>possible rebound in the future.
The best time to start accumulating ethereum
On August 7, cryptocurrency analyst Alan Santana published a ethereum-When-12-500-In-2025/” rel=”nofollow noopener” target=”_blank”>blog entry TradingView analyzes the best time to start planning a trade. ethereum-bulls-gear-up-for-recovery-can-spot-etfs-push-price-to-new-highs/” rel=”nofollow noopener” target=”_blank”>bullish wave on ethereumNow that eth is challenging critical support levels, it could lead to prices returning to the “baseline,” a level that could signal the ethereum/buying-the-ethereum-dip-new-address-tied-to-crypto-mogul-justin-sun-purchases-16000-eth/” rel=”nofollow noopener” target=”_blank”>It's the right time to start accumulating.
According to Santana’s eth analysis, the baseline represents a strong level, suggesting a potential for a bounce but also indicating chances of further price declines. eth/ethereum-price-crashes-2000/” rel=”nofollow noopener” target=”_blank”>The massive drop in the price of ethereum Over the past week, the cryptocurrency analyst warned that prices could fall even further.
He revealed that the market is expected to witness at least six to eight weeks of bearish activity, and so far, only one week has passed. In view of this, Santana recommends waiting for an accumulation range to form, as this can offer investors the ethereum/ethereum-price-plunges-1760/” rel=”nofollow noopener” target=”_blank”>The best opportunity to buy ethereum.
The analyst has also revealed that the ethereum/ethereum-in-an-obvious-accumulation-range-of-all-time-preparing-for-5000/” rel=”nofollow noopener” target=”_blank”>accumulation range will help identify optimal price zones for long-term growth investments. Based on this belief, Santana predicts that eth has the potential to surpass $10,000, approximately $12,555 by 2025. ethereum/ethereum-1400-rally-to-50000/” rel=”nofollow noopener” target=”_blank”>ethereum's Highly Bullish OutlookThe cryptocurrency analyst has stressed the need to remain vigilant and point out low price points for ethereum-crash-a-buying-opportunity-this-whale-thinks-so/” rel=”nofollow noopener” target=”_blank”>long-term strategic purchases.
Santana has revealed that investors should expect eth to potentially reach lower prices around the $1,800 to $1,500 range. He indicates that these low prices could be the next big buying opportunity for eth. Furthermore, the cryptocurrency analyst noted that eth/ethereum-price-bottom-3240/” rel=”nofollow noopener” target=”_blank”>ethereum has not yet bottomed outforecasting further declines to $1,500, which could potentially be the final low before a price rally.
Update on eth price analysis
According to Santana, on Tuesday ethereum showed the highest daily bearish volume since June 2022. He revealed that ethereum-price-crashes-below-3000-as-revenues-drop-to-new-lows/” rel=”nofollow noopener” target=”_blank”>ethereum Downtrend has been ongoing since March 2024, so the altcoin has been experiencing high trading volume. This increase in volume likely means that ethereum/ethereum-vs-bitcoin-why-eth-could-see-larger-fluctuations-soon-qcp-reveals/” rel=”nofollow noopener” target=”_blank”>ethereum's downtrend is not over.
Data from CoinMarketCap shows that eth has seen further price declines. Over the past seven days, the cryptocurrency plummeted by a massive 24.58%, leading its price to trade at a current price of $2504.
From the recent market trends, it seems that ethereum could continue bitcoin-news/bitcoin-bear-market-on-chain-data-suggests/” rel=”nofollow noopener” target=”_blank”>bitcoin's downtrendIn recent weeks, bitcoin experienced massive price drops that saw its value bitcoin-news/crypto-liquidations-1-billion-bitcoin-crashes-52000/” rel=”nofollow noopener” target=”_blank”>falling more than 20%.
In spite of the ethereum/eth-price-spot-ethereum-etfs-2/” rel=”nofollow noopener” target=”_blank”>downward spiral of the marketAnalysts remain bullish on both bitcoin and ethereum. One cryptocurrency analyst, identified as 'Kaleo', x.com/cryptokaleo/status/1820837186754768909?s=46″ rel=”nofollow” target=”_blank”>anticipa further declines in the price of eth, but also predicts a subsequent price rally to new highs.
Featured image created with Dall.E, chart from Tradingview.com
