Ethereum Analyst Predicts Price Bottom at $600 Before Potential Recovery

Despite recent stabilization of the Ethereum price below $2,000, analysts are warning of another significant drop in the near future.

The slowdown in the crash has not alleviated fears that more decline is coming, and past performance suggests that the cryptocurrency may stage a major reset before making a bottom.

A bearish scenario predicted by Alexhiz on TradingView suggests that Ethereum could experience another 60% price drop, pushing its value down to $600. While this may seem disastrous in the short-term, it is seen as necessary for the cryptocurrency's long-term recovery.