A crypto expert has shared her macro prediction for Ethereum (ETH), 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 represent a massive bearish move given ETH’s current price, the analyst argues that such a decline is important for a market reset, where prices rediscover real demand and sustainable support.
Analyst Says Ethereum Crash Is Critical For A Market Reset
Rafaela Rigo, a crypto market analyst, has presented a compelling Ethereum price analysis on X that has caught the attention of traders and investors alike. Rigo shared a chart analysis from 2024 in which she accurately predicted that the Ethereum price would plummet to $1,900 after the cryptocurrency had formed a bull run top in that same cycle. That same analysis had also forecasted a price drop to $800, a level the analyst identified as a “great buying opportunity.”
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Notably, Rigo has now updated that 2024 chart analysis to predict Ethereum’s next move this cycle. She has boldly forecasted that ETH’s price could crash to $800 during the ongoing bear market. With the cryptocurrency currently trading above $2,100, a decline to that level would represent a staggering loss of more than 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 noted in her analysis that she had previously described the 2024 cycle as a catabolic one, and expects the current cycle to be the same. She added that while $800 would be a painful downward slide, it was necessary for a proper market reset.
The analyst emphasized that the crypto market desperately needs this reset to weed out the bad projects flooding into the space and growing daily. She also noted that many of these new crypto projects are pump-and-dump schemes that have weighed on sentiment and caused a significant number of investors to exit the market.
Notably, Rigo described her forecast as a “macro price prediction,” clarifying that it would still take time for everything to unfold as anticipated. In the meantime, she urges investors and traders to remain vigilant, monitor market movements carefully, and avoid emotional trading.
Analyst Predicts Ugly Price Crash For ETH Soon
Market expert Ted Pillows has also shared a new Ethereum price analysis, expressing caution over the cryptocurrency’s recent price action and a Bear Flag formation. Pillows warned that this Bear Flag could have very dire consequences for ETH’s price.
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At the time of writing, the cryptocurrency is sitting above $2,100 following 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 predicted a potential price crash down toward $1,960, representing a major decline of more than 6% from current levels.
Featured image from Pngtree, chart from Tradingview.com