BitMine CEO Tom Lee talked about Ethereum’s price forecast at Consensus. He said that previous downturns had always been sharp. “V-shaped” recoveries.
The following is a summary of the information that you will find on this page.
- BitMine CEO Tom Lee said that Ethereum may be nearing a bottom. ETH recovered from all major 50%+ drawsdowns since 2018.
- Lee highlights a potential “undercut” Near $1,890 is a signal to technical traders that this current selling could be nearing its end.
- Ethereum’s price is near the $1,900 level of support. Momentum indicators suggest that selling pressure has eased, but key resistance is still above.
Tom Lee says that Ethereum always recovers after major falls.
Lee pointed Ethereum (ETHSince 2018, ETH has dropped more than half eight times. In each case, ETH quickly recovered after a crash. He said that this current drop is similar to previous drops, and the market could be near a bottom.
Bitmine’s exec cited analysis by market timing expert Tom DeMarc who believed a return to $1,890 was imminent. “undercut” The level would be a signal of a perfected bottom.
“If you’ve already seen the decline, you should be thinking about opportunities here instead of selling,” Lee spoke with confidence, expressing his conviction that ETH can recover.
Lee stressed that despite recent drops, nothing fundamental had changed in Ethereum’s trajectory over the long term. He thinks the current decline The trend should soon transition to an upwards movement.
You can also contact us by clicking here. Lee did not Investors navigating short-term volatility can find some comfort in his bullish comments, which are grounded in historic price behavior, technical undercut levels and historical pricing.
Ethereum Price Action Support hovers around $1,900
Ethereum’s price has been trading near the $1,900–$2,000 range recently amid broader crypto volatility. At the time of publication, ETH’s price was around $1965, which fluctuated in a narrow range for the last 24 hours. This reflects a cautious attitude among traders.
On the daily chart, ETH is well below its simple 50-day moving average. This level, currently located near $2.800, acts as a strong overhead resistance. The gap between the two charts shows how extensive the recent selling has been.
Relative Strength Index RSI has recovered after being in a very oversold condition. The RSI is still below 50, but the rebound indicates that the selling momentum has slowed down rather than accelerated.
Price action over recent sessions points to short-term base formation around the $1,850–$1,900 range. The zone has been a support for buyers who have stepped in repeatedly to protect dips. The near-term structural strength would be weakened if the $1,850 level was decisively broken. This could lead to the next major support at $1,750.
In the positive direction, there is an initial resistance near $2,000; this psychological level has limited recent recovery attempts. Beyond that, stronger resistance emerges around $2,100–$2,150.
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Source: crypto.news
