Ethereum prices were not immune to the sharp decline that hit the broader crypto market over the weekend. Selling pressure intensified into Monday, with the second-largest cryptocurrency falling toward a low $2,150 level.
Still, some analysts believe that Ethereum’s long-term structure still suggests significant price appreciation.
Ethereum price increases secular breakout pressure
According to an analysis shared by market commentator Bitcoinsensus on social media platform
This increased integration allows analysts to claimpressure is building for a big breakout if the range resolves. Based on this long-term pattern, the Bitcoin Census suggests that ETH could eventually target levels near $7,000 per coin.
Based on the current price of approximately $2,337 at the time of writing, such a move would represent a gain of approximately 200%. However, there are caveats to this analysis.
Despite the bullish long-term outlook, Ethereum price may not rise linearly. The analyst warned that the price could first revisit the lower bound of the compression channel near $1,700 on the weekly chart.
If that scenario were to unfold and something psychologically significant occurred; $2,000 support If this level is not sustained, Ethereum price could fall by around 27% further before finding stronger demand.
Such a decline would further widen the gap between the current price and Ethereum’s all-time high of $4,946, set last year. Currently, ETH remains approximately 53% below its peak.
next growth phase
Beyond chart patterns, other analysts point out fundamental factors that could support Ethereum price in the long term. Recently reportMotley Fool analysts have outlined several potential catalysts that they believe could drive ETH higher this year.
They argued that growth could be driven not only by increased network usage, but also by increased interest from institutions and corporate finance looking to gain exposure to digital assets.
One potential driver is growing adoption across the blockchain space. Analysts pointed to developments in stablecoin legislation and growing interest in real world assets (RWA). tokenization This could be a turning point for the entire industry.
Staking is another area that could increase the appeal of Ethereum. As a proof-of-stake network, Ethereum allows holders to earn rewards by locking up their tokens. Currently, most spot Ethereum exchange traded funds (ETFs) do not offer staking rewards, but that may change.
In December, BlackRock filed documents with the U.S. Securities and Exchange Commission (SEC) regarding staking an Ethereum ETF, a move that analysts believe could open the door to broader participation in staking through regulated investment products.
evolution of layer 2 network It is also considered a potential tailwind. Analysts expect a combination of technological upgrades, economic incentives, and community-driven efforts to address what they describe as a value imbalance between base layer and layer 2 networks.
Featured image from OpenArt, chart from TradingView.com
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