Ethereum Dips Below $2,500; Will It Recover?

Ethereum’s price has dipped below the $2,500 mark, experiencing a 11% drop over the past 24 hours. This decline comes amid broader market weakness in the crypto space and follows the recent Bybit hack, which resulted in approximately $1.4 billion worth of Ethereum being stolen. However, the exchange firm has assured investors that they have recovered the funds, and are fully backed. Despite a short-term bearish outlook indicated by technical indicators like MACD and RSI, many analysts remain optimistic about Ethereum’s long-term potential, citing its historical price patterns and trends as evidence of its resilience.