A crypto analyst is calling Ethereum the “most cursed coin,” sparking a heated debate. While the overall crypto market is showing some positive signs, Ethereum’s price isn’t keeping up.
The Curse of Ethereum?
Analyst Adam (@abetrade) points to a huge increase in Ethereum trading interest (up 110% since August). Despite this, the price is still 20% below its 2024 high. He sees this as a major disconnect – high interest, low price. This isn’t just normal market volatility, he argues. The high interest should mean a higher price, but it’s not happening, possibly due to strong selling pressure.
Delusional Holders?
Adam calls some Ethereum holders “delusional,” especially those holding futures contracts. These holders seem determined to buy more ETH whenever the price drops. While he’s skeptical of this blind faith, he also sees it as a potential opportunity.
Two Scenarios for Ethereum’s Future
Adam outlines two possible scenarios:
- A Liquidation Event: A sudden wave of selling could push ETH below $3,000.
- A Steady Hold: The market could stay stable until a buying opportunity around $2,700.
He’s personally willing to take a risk, potentially buying around $2,700 if the first scenario doesn’t happen.
Another Analyst Agrees
Another analyst, Ali (@ali_charts), agrees with the general price prediction. He thinks Ethereum might fall to the $2,700-$2,800 range before bouncing back. He suggests Ethereum might be following a pattern where dips lead to bigger price increases later. A drop to $2,800 could even be a springboard to $6,000, he says.
At the time of writing, ETH was trading at $3,082.