Ethereum Price Could Dip to $1,600 as Bearish Pressure Builds

The second-largest cryptocurrency by market cap has been slipping steadily, and in accordance to analysts like Bit Bull, the downtrend won’t be over simply but.

As of April 6, ETH is buying and selling round $1,803, down about 1% on the day—and issues may worsen earlier than they get higher.

Why $1,600 Could Be Subsequent

Bit Bull and different analysts imagine ETH may fall as low as $1,600 within the coming weeks. The explanation? A mixture of weak technicals and worrying on-chain knowledge.

Ethereum lately broke down from a symmetrical triangle sample, a setup that often indicators continued bearish momentum. After failing to reclaim the important thing $2,000 degree, ETH is exhibiting indicators of fatigue, with value motion caught in a good, downward vary.

On the similar time, ETH’s market dominance is falling, and a descending triangle sample on the dominance chart additional confirms the chance of draw back. Add in falling trading volumes and repeated failed assist retests, and it’s no marvel sentiment is popping bitter.

Ethereum Technical Snapshot – April 6, 2025

• Price: $1,754 (down 1.88%)

• Assist: $1,752 → if damaged, subsequent goal is $1,685

• Resistance: $1,836–$1,880 (have to be reclaimed for any bullish momentum)

• EMA: Nonetheless buying and selling beneath 50-period EMA, confirming bearish construction

• RSI (14): 36.95 (approaching oversold however no reversal but)

Except bulls can push ETH again above the $1,836 degree with robust quantity, the bears are in management.

On-Chain Information Reinforces the Bear Case

Ethereum’s on-chain fundamentals aren’t providing a lot aid both.

Right here’s what we’re seeing:

• Lively addresses are dropping, indicating decrease person engagement on the community.

• ETH burn charges are declining, an indication that demand for transactions—and community exercise—is cooling.

• Put up-Merge inflation: Regardless of earlier deflationary hopes, ETH’s whole provide has seen web will increase, including additional stress to value.

All these metrics counsel that Ethereum’s latest value struggles are rooted in additional than simply market noise—they mirror deeper network-level tendencies.

Is There Nonetheless Hope for a Bounce?

Whereas issues look grim within the brief time period, not everyone seems to be bearish for the lengthy haul. Commonplace Chartered, for instance, has maintained a bullish year-end goal for ETH—$4,000—although it did revise it down from its earlier forecast of $10,000.

That’s nonetheless a doubling from present ranges, however lots would want to go proper for that to play out. A broader restoration within the crypto market, a return of community exercise, and bullish macro tendencies would all have to align.

Key Takeaways:

• ETH is dealing with robust downward stress, with a possible transfer to $1,600 if present assist breaks.

• Technical indicators, just like the breakdown of a symmetrical triangle and falling RSI, assist the bearish view.

• On-chain metrics—together with decrease person exercise and rising ETH provide—are additionally portray a bearish image.

• Whereas long-term forecasts stay optimistic, Ethereum is in a troublesome spot for now.

Backside Line: Ethereum is at a important juncture. If assist at $1,752 fails, we could possibly be taking a look at a retest of $1,600—or worse. However crypto markets transfer quick, and sentiment can shift shortly.

For now, warning is vital. Keep watch over value motion and on-chain knowledge as this development continues to play out.

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of experience to the sector. With an MBA in Behavioral Finance and energetic progress in the direction of a Ph.D., Arslan possesses a deep understanding of market dynamics.His skilled journey features a important function as a senior analyst at a number one brokerage agency, complementing his in depth expertise as a market analyst and day dealer. Adept in educating others, Arslan has a commendable monitor report as an teacher and public speaker.His incisive analyses, significantly inside the realms of cryptocurrency and foreign exchange markets, are showcased throughout esteemed monetary publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his repute within the monetary neighborhood.