Ethereum (ETH), recently caught attention with its price dropping below $3,000. However, analysts see this downward trend and ETH’s price crash as a buying opportunity and expect a recovery in the future. Analysts like Alan Santana emphasize the importance of buying Ethereum at the right time.
Best Time for Recovery from the Drop
On August 7, cryptocurrency analyst Alan Santana published a blog post on TradingView discussing the best time to buy Ethereum. As ETH tests critical support levels, prices are expected to return to the “base level.” This situation could be a sign of a good time to buy. According to Santana’s analysis, this base level is a strong point, but there is also the possibility of further price declines.
Santana notes that the market will show a downward trend for at least six to eight weeks, and only one week has passed so far. Therefore, he suggests waiting for an accumulation range to form. This development could offer investors the best opportunity to buy Ethereum.
Opportunities for Long-Term Investment
Santana says that the accumulation range will help determine optimal price zones for long-term growth investments. Based on this belief, Santana predicts that ETH has the potential to exceed $10,000 in 2025 and reach approximately $12,555. Given Ethereum’s highly optimistic outlook, the analyst emphasizes the importance of being careful in identifying low price points.
Santana explained that investors should expect ETH to drop to the range of $1,800 to $1,500. He noted that these low prices could be the next big buying opportunity for ETH. Additionally, he predicts that Ethereum has not yet reached its bottom and that the price could fall to $1,500, which could potentially be the ultimate bottom.
Current Market Data and Expectations
According to Santana, on Tuesday, Ethereum showed the highest daily drop volume since June 2022. Ethereum’s downward trend has continued since March 2024, and the altcoin is experiencing high trading volume. This increase in volume indicates that the downward trend for Ethereum is not yet over.
According to data, ETH’s price has seen a significant drop of 24.58% in the last seven days and is currently trading at $2,504. Looking at recent market trends, Ethereum appears to be following Bitcoin’s downward trend. Bitcoin has also experienced significant price drops, losing more than 20% in value in recent weeks.
Despite the market’s downward spiral, analysts remain optimistic about Bitcoin and Ethereum. A cryptocurrency analyst named Kaleo expects further price drops for ETH, followed by a price recovery towards new highs.
