Ethereum crash nearly done? Analyst says just 5% left
Although things in the cryptocurrency market have taken a bearish turn, Ethereum (ETH) may be close to finding its floor by dropping another 5% after a period of downward pressure, according to prominent crypto trading expert Michaël van de Poppe.
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As it happens, traders are eyeing the $4,000 mark as a key support level for the market’s largest altcoin, and van de Poppe believes there isn’t much more downside left, suggesting Ethereum’s current retracement could soon give way to a recovery, as per his X post on September 25.
In his words:
“I don’t think there’s much more downside to come. Would suggest that the green zone is where we’ll be bottoming out. Perhaps another 5% drop on ETH and that should be it.”
What’s next for ETH?
For the time being, ETH is changing hands at the price of $4,036.76, which indicates a 3.25% decline in the last 24 hours, a dip of 11.82% across the previous seven days, and an accumulated loss of 8.72% on its monthly chart, as per the latest data.
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Meanwhile, the market’s largest traders, i.e. whales, seem to be buying the dip big time, as fellow crypto analyst Ash Crypto highlighted one whale who has just purchased as much as 40,937 ETH worth a whopping $163 million in three transactions.
If $3,900 holds, Ethereum could be setting up for an October rebound, in line with broader expectations of a market-wide recovery. A reclaim of $4,200 would be the first bullish confirmation, with higher targets potentially reopening above $4,500.
Until then, traders remain cautious — but the sentiment is leaning toward the idea that most of the sell-off is already behind Ethereum.
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