Ethereum Price Prediction: $1,800 Crash or $6,000 Surge?

Ethereum’s price remains stubbornly below $3,000, despite Bitcoin’s near all-time highs. The market shows bearish dominance, although accumulating shorts hint at a potential rally. However, a significant price drop is also on the table.

Crypto analyst Weslad employs an ABCDE wave structure to chart ETH’s trajectory, predicting a potential plunge below $2,000.

The Bullish Ethereum Outlook

Weslad points to Ethereum’s 2021 peak at $4,851 as the starting point of a long-term symmetrical pennant formation, still unfolding in 2025. He suggests Ethereum has been in a prolonged accumulation phase within a defined corrective range.

The formation of an ABCDE wave pattern is another key indicator. Depending on the asset’s position within this pattern, it can signal either a recovery or a crash. Weslad places Ethereum in a bullish ‘D’ wave.

“Currently, price action is developing near point D, approaching the pennant’s upper boundary, a critical area determining the next directional move,” Weslad notes.

A successful ‘D’ wave could propel Ethereum above $3,500. Furthermore, an Inverse Head and Shoulders Pattern is forming, with $2,855 acting as key resistance. A sustained break above this level, coupled with a ‘D’ wave breakout, could trigger a rally exceeding $6,000.

The Bearish Outlook

Despite the bullish ABCDE wave count, a bearish scenario remains possible. The subsequent ‘E’ wave is inherently bearish.

A rejection at the neckline or pennant resistance could initiate an ‘E’ wave retracement, potentially causing a more than 30% crash towards the $1,400-$1,800 support level.

“Recent price behavior shows compressed volatility and increased buying interest on dips, suggesting an imminent directional breakout,” Weslad cautions. “A decisive move outside this macro structure might signal the start of a new long-term price expansion.”

Featured image from Dall-E, chart from TradingView.com