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The crypto market has experienced significant volatility, and Ethereum (ETH) is no exception. After a sharp 25% decline, ETH dropped below $2,500, driven by the broader market downturn and a massive cyberattack linked to the North Korean Lazarus Group. With these developments, many investors are questioning what’s next for Ethereum.
Bearish Signals Strengthen for Ethereum
Leading analyst Benjamin Cowen warns that Ethereum may struggle to stabilize at current levels. In a recent social media post, he suggested that ETH could fall below $1,000 if the Federal Reserve (Fed) maintains its strict monetary policies. Technical indicators further reinforce this bearish outlook, showing similarities to previous sell-offs in April and August. If this historical pattern repeats, Ethereum may dip below key support levels before a possible recovery.
Can Ethereum Rebound?
For a bullish turnaround, the biggest catalyst would be a shift in the Fed’s monetary policies. Historically, when the Fed injects liquidity into the market, Ethereum has responded positively, often leading to an uptrend in the ETH/BTC pair. If economic conditions change and the Fed implements stimulus measures by March 2025, ETH could regain momentum.
Crypto analyst TraderPA believes Ethereum is currently in an oversold zone, approaching a major buying opportunity. Despite short-term pressure, this could signal a potential rebound for ETH in the coming months.
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