Ethereum $2,296.85 The process that followed the 2021 peak and continued until mid-2023 was a complete disappointment. In 2024, it was seen that something started to change and after a very long time, the ETH price exceeded $ 4,000 for the first time, albeit briefly. The basis of this price movement is Bitcoin 
$54,501.99‘s reaching its ATH. Although there was a price increase due to the spot Ethereum ETF later on, a completely different ETH appearance continues to worry investors today.
Will Ethereum Price Drop?
Although the recent declines in Ethereum have occurred in parallel with the market, what is happening in the background seems to reveal that the process may continue for a while. ETH, which has made a vertical decline from its price level of over $ 3,000 in the past months, seems to be hosting a different process at this point. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
Analysts also have comments that the Ethereum decline could potentially deepen even further, which could further unsettle market participants.
First of all, from the well-known analysts of the market Ali Martinez It was seen that he emphasized the uncertainty of the market by pointing to whales. In this context, he explained the recent behavior of investors with a balance of more than 10,000 ETH in their wallets with Glassnode data.
Martinez’s statement was as follows:
#Ethereum whales stopped accumulating $ETH in early July. They have been selling or redistributing their #ETH holdings since then.
The analyst’s statement revealed that whales, one of the cornerstones of the market, lost their confidence in the price and exited the market by selling sharply.
After Martinez TheoTrader He also stated that his plan for ETH is progressing and stated how the price direction will shape if everything goes well.
#ETH
If all goes as planned, we will see ETH below $2,000 very soon.
How Much Is 1 Ethereum?
Following analysts’ bearish statements, the ETH price appeared to be showing a neutral trend today after a decline that had been ongoing for days. As of writing time, ETH once again fell to $2,276 without exceeding the $2,300 level after a 1% decrease in the last 24 hours.
As Martinez also stated, whale activities may have had a major impact on this decline. The sales made by whales may also affect individual investors, which can be interpreted as them also lowering the price with short sales.
When looking at the ETH/TRY parity, the price was reflected in the charts as 77,840 TL, which meant a 1.14% decrease in TL terms.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
