Ethereum (ETH) temporarily surpassed $3,000 yesterday but fell below this price again due to widespread market fluctuations.
Currently, analysts are analyzing where the bottom for Ethereum will be. Based on technical analysis, on-chain data, and market cycle theory, several scenarios for ETH's next major movement have emerged.
Analysts explain the downside scenario for Ethereum
Recent price trends of Ethereum reflect the uncertainty surrounding the entire cryptocurrency market. The rise and easing of geopolitical risks are leading to significant price movements.
According to BeInCrypto Markets, Ethereum has decreased by 1.67% in the last 24 hours. The trading price at the time of writing is $2,970.87.
Analyst Ted Pillows points out that if Ethereum can firmly break above the $3,000 to $3,050 range, the $3,200 area will come into view. On the other hand, if it cannot recover this level, Ethereum may update its lowest price of the year.
Under such circumstances, other analysts are also presenting hypotheses about Ethereum's bottom price. CryptoQuant analyst CW8900 analyzed that the 'realized price of accumulation addresses' showing the average purchase cost of ETH acquired by long-term holders continues to rise, approaching the current spot price.
This trend suggests that whales, who are large investors, continue to increase their purchases.
"Furthermore, the realized price serves as a strong support line for whale accumulation," the analysis states.
He also points out that Ethereum has never traded below this cost level, indicating that whales are strengthening their purchases in this price range. Based on this data, CW estimates that even if a decline progresses, it is likely to bottom out around $2,720.
"In other words, even if there is further decline, the bottom will likely be around $2,720. This is about a 7% difference from the current price," CW noted.
From a technical perspective, trader Kamran Asgar claims that ETH has formed its third 'major weekly rounded bottom' this time. In the past twice, a sharp rise was observed after this pattern, indicating the possibility of another increase.
On a longer time frame, other analysts are also paying attention to a similar reversal pattern. According to analyst Bit Bull, ETH is showing a double bottom structure along with an inverse head and shoulders pattern on the monthly chart. Both are known as bullish reversal signals in technical analysis.
"In 2026, ETH will show movements that will astonish everyone," said Bit Bull.
Finally, analyst Matthew Highland focuses on past cycle patterns. He suggested that Ethereum is transitioning to a new phase in market structure.
In this view, Ethereum is said to move in a pattern every three and a half years, unlike Bitcoin's four-year halving cycle. Highland stated that a cyclical low was formed in the fourth quarter of 2025.
"Similar to the past two cycles, a decline of three and a half years will occur 40 to 42 months after hitting a new all-time high. The next ETH cycle has begun," he stated.
Overall, analysts' opinions are divided, but several indicators suggest that Ethereum may be approaching a crucial turning point. While short-term fluctuations will continue, on-chain data, technical structure, and historical cycle patterns indicate points that could attract new demand during a downturn, potentially determining the future direction of Ethereum.
