Market Analysts Predict Ether Bearish Continuation That Could Crash Ethereum To $750

zycryptoPublicado em 2022-10-02Última atualização em 2022-10-08

Resumo

Bearish sentiments for Ether (ETH), the native token of the Ethereum blockchain, continues to build up.

Bearish sentiments for Ether (ETH), the native token of the Ethereum blockchain, continues to build up. ETH is currently trading around its July low of around $1,290, a level that analysts expect prices to fall from to between $750-$850 in the coming months.

According to the pseudonymous market analyst ‘CryptoCapo,’ the price of ETH has reached its next support level at the current price. Based on this, the analyst expects the market to show a slight bounce that will test the neckline of the Head & Shoulders (H&S) technical pattern due to a concentration of demand or buying interest.

Following this will be a bearish continuation characterized by a selloff that will dump the price of ETH to the primary target price of between $750-$850, likely to be the local bottom for several months.

ETHUSD Chart by TradingView via @CryptoCapo_

The analysis is coming after the price of ETH has taken a hit from both a ‘sell-the-news’ and Fed rate hike sell pressures. However, it is not the only bearish price prediction for ETH.

In a TIME report, several analysts also indicated pessimism for the ETH market for several reasons. Venture capitalist Kavita Gupta forecasted a crash to as low as $500 if the broader market sell-off deepens. At the same time, the crypto market analyst Wendy O. also expects ETH to drop to around $750, an 85% drawdown from its all-time of $4800.

ETH bulls still hopeful for an upward breakout in 2022

Ether bulls persist in the market despite the prevailing bearish price trend of the second largest cryptocurrency. In the same TIME report, several analysts disclosed that they expect the price of ETH to close out 2022 to its previous high and even set new highs in 2023.

“I believe ethereum can go to $8,000. Ethereum is the clear leader, but other blockchains are onboarding new users at a faster pace due to ethereum’s high gas fees and low transaction speed,” said Ian Balina, investor and founder of crypto research and media company Token Metrics.

Options data noted by crypto and blockchain analytics company Glassnode indicates that traders are equally optimistic about an upside in the price of ETH. Per Glassnode’s report, despite ‘The Merge‘ – Ethereum blockchain’s transition to proof-of-stake – being completed, traders have yet to close their risk hedging positions in the ETH derivatives market.

Leituras Relacionadas

Trends in US Stocks (June 22): Strait of Hormuz Agreement Changes Course, Thursday's PCE and Micron to Determine Chip Sector Direction

U.S. Stock Market Outlook (June 22): Strait of Hormuz Deal Falters, Thursday's PCE & Micron to Set Chip Sector Direction. Geopolitical tensions resurged over the weekend as Iran's IRGC announced the closure of the Strait of Hormuz, and its negotiation team walked out after threats from Trump, pausing U.S.-Iran talks. This renewed risk premium is weighing on U.S. equity futures ahead of the open. Last week's market was driven by chip stocks, with the Philly Semiconductor Index hitting a record high. While the Fed's hawkish tone was overshadowed by initial deal optimism, the S&P 500 gained 0.9% for the week. SpaceX debuted strongly but ended with two down days. Key events this week: The status of U.S.-Iran negotiations remains the immediate variable for oil and energy stocks. Monday sees Marvell and Flex added to the S&P 500. Tuesday's MSCI reclassification could benefit South Korean semiconductors and memory stocks. **Thursday, June 25th, is the critical day**, featuring the May Core PCE report and Micron's earnings. Hotter PCE data could solidify expectations for two 2024 rate hikes, while softer data would rapidly reprice rate cut bets. Micron's report is a key test for the AI narrative; the market will scrutinize its 2027 HBM supply visibility, HBM4 progress, and its position in Nvidia's Vera Rubin supply chain. Nvidia's AGM and a potential OpenAI GPT-5.6 release will make Thursday a pivotal 24 hours for AI. Friday concludes with the Russell reconstitution, elevating small-cap volatility. In summary, last week's gains face a true test. The path hinges on two concurrent threads: geopolitical developments with Iran and the AI narrative defined by Micron's guidance and Nvidia's updates. The chip sector's record highs are vulnerable if Thursday brings hot PCE data and conservative guidance from Micron. Conversely, positive outcomes could reaffirm the AI bull case, making this week's volatility a potential entry window.

marsbitHá 12m

Trends in US Stocks (June 22): Strait of Hormuz Agreement Changes Course, Thursday's PCE and Micron to Determine Chip Sector Direction

marsbitHá 12m

Viewpoint: The Impossible Triangle is Fundamentally a Pseudo-Problem

"The Cryptography System That Can't Keep a Secret" Blockchain is a slow, expensive, shared computer owned by no one, whose only advantage is permissionless access and trustless verification. While "scalability" was solved, the true barriers to mass institutional adoption are two inherent design features: legal ambiguity and radical financial transparency. The industry found its killer app—pure ledger-based assets like money (e.g., $300B+ stablecoins)—but serves a narrow band of users. Large capital (family offices, sovereign funds) stays away because it's legally uncertain and operationally exposes every position and transaction to the public and predatory MEV, which acts as a quantifiable tax. We built a powerful cryptographic system yet failed to encrypt user activity. Privacy is not the enemy of compliance. Modern cryptography (like zero-knowledge proofs) enables proving facts (solvency, KYC, risk limits) without revealing the underlying data. This resolves the transparency vs. privacy false dilemma. "Default privacy with provable compliance" is a pure upgrade, retaining auditability for regulators while eliminating the leak. It's the bridge for the next trillion dollars of capital, finally allowing the most powerful cryptography to do what it was always meant to: keep a secret.

marsbitHá 19m

Viewpoint: The Impossible Triangle is Fundamentally a Pseudo-Problem

marsbitHá 19m

OpenAI's "Most Open" Move: Codex No Longer Exclusively Favors GPT

OpenAI has significantly opened up its Codex programming agent by introducing a "model provider" configuration layer that allows users to connect it with various open-source models, not just its proprietary GPT. Through a configuration file or a simple `--oss` command-line flag, Codex can now route requests to local services like Ollama or LM Studio, or to third-party APIs such as Mistral or DeepSeek. This move is seen as one of OpenAI's most "open" steps, potentially lowering costs and enhancing privacy for developers who can run code generation offline. However, integration isn't seamless for all models. Codex primarily uses OpenAI's newer Responses API, while many open-source models rely on the older Chat Completions interface. This creates compatibility issues, especially for advanced features like function calling. The developer community is already building "routing" or adapter layers (e.g., CC Switch, LiteLLM) to translate between these protocols, enabling hybrid setups where GPT handles planning and open-source models handle execution. Analysts interpret this as a strategic shift for OpenAI: from competing solely on model superiority to controlling the platform and interface standards. By making Codex a flexible, pluggable entry point for AI-assisted programming, OpenAI aims to become the central hub in the developer toolchain ecosystem, even as users gain the freedom to switch underlying models.

marsbitHá 1h

OpenAI's "Most Open" Move: Codex No Longer Exclusively Favors GPT

marsbitHá 1h

When 500 Million People Abandon ChatGPT

ChatGPT's Global AI Assistant Market Share Drops Below 50% Three and a half years after its groundbreaking launch, ChatGPT faces a pivotal moment. While it remains the largest AI assistant globally, its market share has fallen below 50% for the first time, reaching 46.4% as of May, according to Sensor Tower's 2026 AI landscape report. Google's Gemini (27.7%) and Anthropic's Claude (10.3%) are now its main competitors, with Grok, Perplexity, and others also gaining ground. The market has evolved from awe and initial adoption into a phase of product comparison, ecosystem integration, and commercialization. User behavior has matured significantly. Loyalty is low; users readily switch between assistants for specific tasks. Gemini benefits from deep integration within Google's ecosystem (Search, Gmail, Android), while Claude has carved a niche among productivity-focused users with strong retention, nearly matching ChatGPT's. User choice is now influenced by a complex mix of capability, ecosystem, price, use case, and even brand trust. Commercialization is accelerating. AI app downloads continue but growth is slowing, while user spending is rising. Over $4.2 billion was spent in-app during H1 2026. Claude leads in premium subscription conversion rates (13%). OpenAI is expanding its revenue streams, testing ads shown to 17% of ChatGPT users daily by May. This shift highlights the immense financial pressure of model training and inference costs. Despite revenue growth, OpenAI's cash burn is intense, reaching $3.7 billion in Q1 2026. The company projects this could rise to $25-57 billion in the coming years, underscoring the industry-wide challenge of scaling profitably. The symbolism is clear: ChatGPT no longer defines the AI assistant market alone. The era of a single dominant product is over. Gemini, Claude, and specialized tools are collectively shaping user habits and business models. As AI assistants move from novelty to utility—judged on accuracy, efficiency, and value—they are becoming embedded in everyday digital life. ChatGPT may have lost its majority, but AI as a whole is winning, entering a mature, competitive, and diverse new phase.

marsbitHá 1h

marsbitHá 1h

Andre Cronje Departs Sonic Labs Board Amid Token Slump

Key DeFi developer Andre Cronje and two other directors have resigned from the board of Sonic Labs, formerly the Fantom Foundation. The departures raise governance questions for the high-speed EVM scaling project, coinciding with a significant decline in its native token, S/FTM, which trades approximately 97% below its all-time high. Despite the board shake-up, developers state that technical execution and protocol launch timelines remain unaffected. The project's new CEO is focused on operational restructuring. The situation underscores the volatility and governance challenges within the DeFi space, with future stability dependent on transparent leadership and adherence to the technical roadmap.

bitcoinistHá 11h