Ethereum Plummets to 14-Month Low, Analysts See Bullish Signs Ahead

Ethereum's price continues to slide, down 4.82% on Tuesday to $1,656.

This is close to a 14-month low, but analysts like Thomas Lee of Fundstrat believe the coin is undervalued and has significant potential for growth.

Lee predicts Ethereum could eventually reach $22,000, citing favorable economic conditions such as falling inflation and decreasing oil prices.

The Clarity Act, a step towards legitimizing cryptocurrency, is also seen as a positive factor in the market's recovery from the Iran war.