According to market data, the price of Ethereum (ETH) has dropped by 22% in the past week, reaching its lowest level since January 2024. With a new floor at $2070, Ethereum has faced significant selling pressure, with over $200 million in ETH positions liquidated in the past 24 hours. Ethereum is testing key support levels, and a close below $2100 could indicate a double top pattern, potentially leading to a price drop to $1500. On the other hand, analyst Jason Pizzino has warned that a close below $2000 could create further selling pressure on ETH. Institutional investors have seen the recent dip as a buying opportunity, with reports of whales purchasing 110,000 ETH (approximately $240 million). Some analysts, like Captain Fawcett, predict ETH could reach $12,000 by early 2026. The fate of Ethereum depends on maintaining the $2000 level. With buyer support, a strong recovery is possible; otherwise, the risk of dropping to $1900 or even $1500 increases.
