Ethereum Price is capturing attention as market experts foresee a potential breakout, defying recent bearish trends. Crypto analyst Marcus Corvinus offers an optimistic perspective on Ethereum’s current trajectory.
In an X post, Corvinus highlighted underlying bullish signals for Ethereum. He noted that while Bitcoin has displayed lower lows, Ethereum has maintained higher lows, suggesting resilience under market pressure. This performance, according to Corvinus, is more than mere price action—it’s a testament to Ethereum’s strength.
Ethereum Price Action: A Hidden Bullish Divergence
Corvinus pointed out a fading bearish volume over the past month, signaling that weaker hands are exiting the market. He emphasized a Hidden Bullish Divergence as the RSI made a lower low while prices made a higher low, a classic setup indicating strong continuation.
Despite an oversold RSI, Ethereum has held above July’s support level through two retests. Corvinus interprets this stability as consolidation rather than reversal, often predicting a breakout to the upside.
Ethereum’s Path Forward
Corvinus confidently stated that the current Ethereum Price crash is merely the calm before a storm. He maintains his target of $7,000 to $8,000 for this cycle, suggesting a breakout is a matter of when, not if.
BitMEX co-founder Arthur Hayes, however, suggested a possible dip to the psychological $3,000 level before Ethereum resumes its upward trajectory. He attributes this to economic factors like the Trump tariffs and sluggish US job growth.
Hayes also expressed skepticism about liquidity sources necessary for a significant price rally, questioning the ability of major economies to generate sufficient credit to boost nominal GDP.
Current Market Standing
As of now, Ethereum trades just below the $3,500 mark, reflecting a near 5% drop in the past 24 hours, per CoinMarketCap data. While short-term fluctuations are expected, the long-term bullish outlook remains intact.
Corvinus and Hayes offer differing perspectives, yet both highlight the potential for significant price movement. The market awaits Ethereum’s next decisive move, with keen eyes on its performance.
