Ethereum Price Drops Below $4,100: Is a Crash to $2,400 Looming?

Ethereum’s price has dipped below the crucial $4,100 mark. This decline is raising concerns among analysts who see a potential crash toward the $2,400-$2,500 range. Analyst Washigorira noted that the current bearish MACD crossover signals waning bullish momentum, echoing past occurrences where this signal resulted in significant price drops of 43% and 61%. Institutional buying continues with Bitmine’s recent acquisition of $418 million worth of ETH, adding to this uncertainty. While a definitive direction remains unclear, traders must be prepared for any potential outcome.