Ether price may 20% drop as analysts say ‘downside risks remain’
Market analysts say Ether (ETH) faces “downside risks” that could trigger another 20% downtrend toward $1,700, new analysis said. Key takeaways:Rising Ether supply on exchanges and declining ETF inflows suggested a possible ETH price drop over the coming days.Ethers rising wedge pattern projected a potential 22% drop to $1,725 ETH inflows to exchanges rise Ethers 40% recovery from multi-month lows below $1,800 was Analysts have outlined several , including “significant” inflows into exchanges, according to CryptoQuant analyst BorisD. The chart below shows a sharp increase in ETH reserves held on Binance to 3.84 million from 3.36 million between May 5 and May 9. The analyst that as inflows accelerated, the “price action failed to show strong continuation to the upside,” dropping 7% to $2,260 from $2,390 over the same period. “This suggests that liquidity was being both absorbed and distributed within the range,” BorisD said, adding: “The broader structure still points toward downside risk remaining dominant for now.” While other analysts see potential for fresh upside in the coming days, “those moves may primarily serve distribution purposes rather than signal the start of a strong bullish trend,” the analyst added. Making the same observations, fellow analyst PelinayPA any short-term rebound in ETH would be “followed by high volatility, and then