Why is the price of Ethereum crashing?

The price of Ethereum continues to fall, consistent with the negative sentiment in the market. Despite Bitcoin hovering around $95,000, Ethereum is struggling to regain momentum (ETH). However, market experts are optimistic about the possibility of an ETH price increase, expecting it to reach new record levels.
It is worth mentioning that the cryptocurrency market is once again heading towards a downturn, with a total market value dropping to $3.13 trillion, a decrease of 2.26%. Including Ether, XRP, and Solana, among the top 15 cryptocurrencies.
Can the price of Ethereum reach $20,000?
In the latest analysis, the renowned cryptocurrency influencer Cryptosahintas has set an ambitious price target for Ethereum. Since 2017, analysts have identified the key support and resistance levels for ETH. Despite emphasizing the current ETH price level as a critical support zone, an iconic surge could propel Ether to an astonishing $20,000 level.
Hong Kong recognizes BTC and ETH as legal assets
According to reports, Hong Kong accepts Bitcoin and Ethereum as valid proof of assets in investment immigration applications. While this development indicates the city's increasing proximity to cryptocurrencies, it also highlights important market dynamics for the two tokens.
Despite the widespread crash, Bitcoin and Ethereum showed signs of recovery after a critical moment. Despite Ethereum being in a low area, there are speculations that the token will triple this year.
2024 vs 2025: Will history repeat itself?
The current price of Ethereum is $2,619.57, a decrease of 2.85% in the past 24 hours. From a broader perspective, Ethereum fell 19.4% last week and 22% last month.#百万 $ANLOG Launchpool挖矿进行中 #市场触底了吗？ #$BERA交易开启
Merchant Ted compared the expected paths of Ethereum (ETH) in 2024 and 2025. At the beginning of 2024, the price of Ethereum reached $2.1 thousand. After retesting the key level, Ethereum rose 100% in just six weeks. This comparison shows the potential surge in the price of Ethereum in the coming weeks.