The cryptocurrency market has recently experienced a notable fluctuation, especially for Ethereum (ETH), which has demonstrated both volatility and resilience in its price trends. As we dive into the details, it’s clear that while Ethereum has shown signs of recovery, its future trajectory may raise concerns among investors.
Following a rocky start in early 2025, Ethereum managed to regain its footing, showing a brief resurgence. However, this upward momentum proved to be short-lived as it fell into a consolidation phase recently. ETH’s value dipped below $2,300, highlighting a moment of heightened market apprehension exacerbated by geopolitical tensions across various regions.
What Does the Future Hold for Ethereum?
In a recent analysis shared on social media, renowned market analyst Aksel Kibar expressed a cautious outlook for Ethereum in the coming weeks. His bearish viewpoint suggests that ETH may be on the verge of another significant price drop.
The argument revolves around the identification of a particular chart pattern known as an ascending channel. This technical analysis tool consists of two parallel trendlines: one capturing the higher swing points and the other the lower ones. Typically, such a pattern indicates that the asset is under an ongoing bullish trend.
However, if the price breaches the lower trendline of this channel, it often indicates a potential reversal from a bullish to a bearish market. This phenomenon was observed earlier this year when Ethereum experienced a drastic decline in value, reaching as low as $1,200 before rallying back above $2,000.
According to Kibar, the brief uptick in Ethereum’s price could simply represent a retest of the broken lower trendline. Should this hypothesis hold true, the altcoin may slide back towards the $1,200 mark, or even test the psychologically important support level around $900.
Current Price Overview of Ethereum
At the latest update, Ethereum is trading just below the crucial $2,300 resistant level, having faced a decline of over 5% within the last day. In addition, its weekly performance is reflective of a nearly 9% downturn, based on analytics from CoinGecko.
