Ethereum Drops 15% to $2,130, Analysts Predict $6,000 Rally

Coin WorldTuesday, Jun 24, 2025 12:39 pm ET
1min read

Ethereum's price experienced a significant drop to $2,130 in the past 24 hours, causing concern among investors. This decline was part of a broader downturn in the crypto industry, which also saw Bitcoin briefly fall below $100,000. Despite this sudden correction, analysts remain optimistic about Ethereum's future prospects, predicting a strong rally once the current downturn is over. Their projections suggest that Ethereum could reach as high as $6,000 in the coming months.

One analyst, using Elliott Wave Theory, suggested that Ethereum has completed what is known as wave A of a larger corrective structure. This theory indicates that Ethereum's price could see a short-term bounce to around $2,792 before another downward leg, potentially driving the price to as low as $1,706. This level is considered an ideal buy zone for long-term accumulation. The analyst believes that once this corrective phase is complete, a full bullish impulse will resume.

Another analyst, using Wyckoff's accumulation framework, shared a contrasting yet converging perspective. According to this framework, Ethereum has already completed the spring and test phases, which are components of a Wyckoff accumulation pattern. The next phase, according to the Wyckoff method, is the markup phase. This outlook suggests that Ethereum will reclaim a horizontal range between $2,150 and $2,450, followed by a steady progression above $3,850, and then another strong move past $4,800, ultimately culminating around $6,800 to $7,000. This bullish setup implies that the recent dip to $2,100 may have served a larger structural purpose, clearing the path for long-term buyers to step in.

Both analysts agree that Ethereum could break into the $6,000 range within a six-month to one-year trajectory. At the time of writing, Ethereum is trading at $2,420, up by 7.4% in the past 24 hours. This price movement reflects the market's volatility and the potential for significant gains in the near future. Despite the recent downturn, the overall sentiment remains bullish, with analysts predicting a strong rally for Ethereum in the coming months.