TL;DR
Ethereum’s price struggles below $2,800, with some analysts warning of a potential drop to $1,200 if key support fails.
Others, including Michael van de Poppe, remain optimistic, citing Trump-linked investments as a bullish indicator.
ETH Bulls to Suffer More Pain?
Ethereum (ETH) – the second-largest cryptocurrency in terms of market capitalization – is among the very few leading digital assets that have not charted impressive gains during the bull cycle in the past several months. It currently trades at less than $2,800, representing a 24% decline on a 30-day scale.
ETH Price, Source: CoinGecko
And while many industry participants believe the asset has yet to catch up with Bitcoin (BTC) and the rest of the market, some are quite pessimistic. The popular X user Nebrascangooner recently claimed that the “potential cup and handle pattern” witnessed on ETH’s price chart is no longer valid.
The analyst suggested that the valuation formed a double top in the past year, e
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