Market expert Lark Davis has drawn attention to the dramatic downturn in Ethereum’s price in a recent social media update, highlighting a 38% drop in Q1 of this year for the altcoin. This figure is alarmingly close to its worst quarterly performance of 46% recorded during the first quarter of 2018, as noted in the comparison chart shared by Davis. Related Reading: XRP Breakout On Hold?
Crypto analyst Merlijn drew parallels between the current market conditions and Bitcoin’s past performance, suggesting that Ethereum is poised for a similar trajectory. The analyst noted, "Accumulation, breakout, and V-shape recovery loading,” implying that a new bull run could be on the horizon for ETH, with forecasts suggesting it could reach up to $24,000 during this cycle—a major 1,100% increase.
Expert Ali Martinez recently highlighted key resistance levels that Ethereum must overcome for a sustainable rebound in the short-term. Martinez noted that ETH’s price has reclaimed its realized price of $2,040, but the next significant challenge lies at the $2,300 mark, where strong resistance has been observed for the leading altcoin.
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