Ethereum Not Out Of The Woods Yet: Why Another 30% Crash To $1,800 Is Coming

Crypto analyst Crypto Wave predicts that Ethereum may experience another significant price crash, dropping to as low as $1,800, marking Wave C of a corrective move. This crash would be part of a larger Wave 2 correction, with a target zone between $1,950 and $1,700. Ethereum has already hit the 0.5 fib retracement at $2,100, but Crypto Wave believes this drop still looks like Wave A only. The analyst notes that ABC corrections are always three-part moves, and he sees this forming now for ETH. Despite the current market rebound, Crypto Wave suggests that the bearish setup for ETH remains intact and a deeper sell-off is possible. However, if ETH breaks above $2,880 impulsively, the correction could be over, and the altcoin could enter a new bull cycle. Meanwhile, crypto analyst Merlijn draws similarities between the current Ethereum price action and that of 2021, predicting a retest of the $2,000 level before a massive move to the upside. According to Merlijn's chart, Ethereum could rally to as high as $11,000 on this uptrend, which is expected to happen between now and year-end. At the time of writing, the Ethereum price is trading at around $2,480, up over 2% in the last 24 hours.