Ethereum

Ethereum’s price has fallen below the critical $3,000 support level, risking a further decline towards $2,850. However, the MVRV Z-Score indicator suggests the asset may be undervalued and could be nearing a bottom.

In November, inflows into companies holding digital asset treasuries plummeted to a yearly low of $1.32 billion. Consequently, the stock prices of major players like Strategy (MSTR) and Metaplanet have suffered dramatic declines, with MSTR down over 60% from its July peak.

After a sharp correction, the crypto market rebounds with bitcoin leading the recovery. Analysts remain optimistic, with some predicting new all-time highs by January.

Despite a significant price drop, Fundstrat’s Tom Lee predicts Bitcoin will hit a new all-time high by the end of January. He cites a recovering stock market and a potentially less aggressive Fed as key drivers, while his firm, Bitmine, continues to aggressively accumulate Ethereum.

Ethereum’s price has fallen 6% in the past 24 hours, and an expert warns of a potential deeper crash due to a bearish pattern. Analyst Ali Martinez predicts further declines to $2,250, $1,550, or even $1,080.

The crypto market started December with heavy losses, with Bitcoin dropping over 7%. The downturn is largely attributed to rising interest rates in Japan, which is prompting the unwinding of the yen carry trade, leading to widespread sell-offs in risk assets.

After four consecutive weeks of outflows, crypto investment products returned to form with nearly $1.07 billion in inflows last week, led by Bitcoin and XRP which recorded its strongest week ever.

Ethereum has dropped over 32% in three months, and despite a recent bounce, key indicators like the RSI show bearish divergence. Long-term holders are also offloading hundreds of thousands of ETH, suggesting the recovery may be weak and further downside is possible.

Ethereum is hovering around $3,000, and an analyst predicts a potential rise to $3,200, driven by unusually low stablecoin yields on lending platforms, indicating the market hasn’t peaked yet.

Ethereum is rolling out its ‘Fusaka’ hard fork on December 3, aiming to boost scalability and lower transaction fees. Analysts are bullish on the update’s potential impact on ETH’s price, citing historical gains from past upgrades.