\n\t\t\t\t\t\t\t\t\t“Ethereum is at a make-or-break level,” one analyst claimed.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
The second-largest cryptocurrency rose by 2% over the past 24 hours, thus once again jumping beyond the $2,500 milestone and adding fresh fuel to analysts\u2019 prevailing bullish outlook.<\/p>\n
However, not everyone shares that optimism, with one market observer warning of a potential 40% collapse ahead.<\/p>\n
Modest and Ridiculous Targets<\/h2>\n
ETH\u2019s increase to approximately $2.5K seems to be a major turning point for the asset. X user Gerla claimed<\/a> a clean break above that mark could mark the beginning of a new bull run, while losing the rising support may hamper the overall uptrend.<\/p>\n Ted spoke<\/a> on the matter when ETH briefly climbed to the resistance zone of $2,550. In his view, a weekly close above that level could result in a further surge to $3,000. Shortly after, he suggested<\/a> that a daily close beyond might be followed by a 10%-15%.<\/p>\n KriptoXI also believes<\/a> Ethereum is at \u201ca make-or-break\u201d level, predicting a spike to $2,800 if the asset clears $2,550. At the same time, a plunge below $2,400 could weaken bullish momentum and trigger a deeper pullback.<\/p>\n Of course, there are some who envisioned an \u201cup only\u201d scenario from here on. Crypto Patel pointed<\/a> to striking parallels between ETH\u2019s current path and past market cycles, opining that if history repeats, the next target could be beyond $20,000. Not long ago, Credible Crypto also floated<\/a> the idea that the asset\u2019s valuation might be headed toward such a parabolic increase.<\/p>\n X user Nonzee, who recently claimed<\/a> that BTC\u2019s rally could be abruptly ended by a violent decline toward $45,000, expects a similar scenario with ETH. The analyst described<\/a> the asset\u2019s breakout to $2,500 as a trap, adding that the price must first retest $1,500 before starting a bull run to $4,500.<\/p>\n \u201cThat drop will look like the entire structure has failed. It will actually be the final shakeout that completes it,\u201d they said.<\/p>\n<\/blockquote>\n Ethereum\u2019s Relative Strength Index (RSI) serves as a warning for such a potential correction. The ratio has jumped to 77, meaning the asset has entered overbought territory and could be gearing up for a move south. The technical analysis tool ranges from 0 to 100, where anything below 30 is interpreted as a bullish zone.<\/p>\nPrepare for a Crash?<\/h2>\n
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