Ethereum price in ‘cursed’ downtrend which could continue well into 2025 — Analyst
Ethereum's native token, Ether, has consistently entered oversold territory against Bitcoin, lacking signs of a price bottom. An analysis of past performance suggests that Ethereum may face further declines in 2025, with recent trading patterns mirroring those from mid-2024, where the ETH/BTC pair experienced significant losses. The relative strength index (RSI) indicates persistent bearish momentum, with multiple breakdowns occurring in rapid succession. Additionally, negative onchain data and ETH ETF outflows signal weakening demand, with Ethereum's trading activity flat relative to Bitcoin's rebound. Currently, the ETH/BTC pair forms a bear pennant on the charts, indicating a potential drop of 15% to a target of 0.01968 BTC in April if it breaks below key trendlines. A bullish reversal could occur only if the price breaks above the pennant’s upper resistance. Investors are advised to conduct thorough research before making decisions, considering the high risk involved in Ethereum's current market state.
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