Is the world’s second-largest cryptocurrency heading for a deeper collapse? | Source: Image created with Gemini
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Key Takeaways
After a rapid fall from $4,000 to $3,000, analysts warn Ethereum’s price could plunge as low as $900 if selling pressure intensifies.
CCN analyst Valdrin Tahiri said the outlook looks bearish for Ethereum.
We asked OpenAI’s ChatGPT and Elon Musk’s Grok to weigh in.
Ethereum is facing dangerous pressure after the market continues to see a dramatic downturn.
With Ethereum’s price falling from nearly $4,000 to $3,000 in early November, wiping out almost $1 billion in leveraged positions, holders are understandably stressed.
On Tuesday, CCN analyst Valdrin Tahiri claimed that unless Ethereum’s price quickly recovers above $4,000, ETH could continue sliding toward its 2022 lows of close to $900.
As of the time of reporting, Ethereum is trading just below $3,400, with no signs of climbing.
So is the world’s second-largest cryptocurrency heading for a deeper collapse? We asked ChatGPT and Grok to weigh in.
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“Ethereum dropping back to $900? That’d be like Apple stock going back to iPod prices — not impossible, just catastrophic,” it said.
Then came the trademark Grok sarcasm:
“Everyone says ‘ETH will never go below $2,000 again.’ You know who else said ‘this is the bottom’? People in 2022, right before it wasn’t.”
But Grok didn’t dismiss the possibility entirely.
“If the market keeps bleeding, $900 isn’t fantasy — it’s math. Leverage unwinds fast, and sentiment turns on a dime,” it warned.
Adding: “Crypto doesn’t crash gradually, it falls off cliffs.”
CCN’s Reality Check
Ethereum’s price is flashing several bearish signs, according to CCN analyst Tahiri, who warned that the latest breakdown could trigger a prolonged downward movement.
Tahiri said the most prominent red flag comes from Ethereum’s deviation above the $4,000 horizontal resistance area and its subsequent breakdown from the ascending support trend line.
“Ethereum confirmed the deviation above the area with this week’s breakdown, which simultaneously caused the breakdown from the trend line,” Tahiri explained.
He noted that the ascending support had guided ETH’s rise for several months, meaning its collapse could mark the start of an equally lengthy decline.
“Since the price of ETH had increased alongside this support for several months, its breakdown will likely cause a similarly lengthy downward movement,” Tahiri said.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
