Ethereum Price Plunges, but Analyst Sees Path to $5,000 by Year-End

Ethereum (ETH) experienced a significant downturn yesterday, dropping as low as $3,160 before recovering slightly. This drop erased the asset’s yearly gains and triggered widespread liquidations. Despite this bearish pressure, some market analysts remain optimistic about Ethereum’s long-term trajectory, predicting that it may reach $5,000 by year-end. They argue that while selling pressure is currently dominant, it doesn’t signify panic and instead reflects controlled profit-taking within a broader uptrend.