No, Ethereum ETH Is Not Dead, According to Top Analyst
Due to Ethereum’s prolonged drop, there has been a lot of speculation over its long-term viability. Nonetheless, top expert Chris Burniske believes that reports of Ethereum’s doom are much exaggerated, notwithstanding the pessimism. Recently, Burniske stated that there is a lot of speculation concerning ETH’s extinction
. Despite the fact that it sparks debate, the discussion is beneficial. His perspective implies that, while Ethereum has undergone a large decrease, it is not the first time in cryptocurrency history.
Burniske said that he purchased the dip, but he is leery of any further declines. He went on to emphasise a strategic, all-encompassing attitude to market volatility, saying, “If we go higher, I just ride.”
Technically speaking, Ethereum’s price movement remains worrying. Recently, ETH fell below the critical $2,000 support level and is now trading at around $1,900. A surge in selling volume corresponded with the fall, reinforcing the pessimistic sentiment. Moving averages are bearishly positioned, with the 50-day EMA functioning as a strong resistance zone near $2,300 and the 200-day EMA around $2,700.
Arthur Hayes, another prominent analyst, believes the current market structure is complicated and lacks obvious bullish confirmation, despite Ethereum’s significant downward velocity. Burniske appreciated Hayes’ findings, noting that Hayes predicted the ongoing downturn more precisely.
But he remains optimistic about Ethereum’s long-term survival and advocates caution rather than outright fear. To recover, Ethereum must reclaim $2,000 and establish support above it. The major bullish target is between $2,700 and $3,000; a move above $2,300 would be the first sign of strength.
Ethereum may return to the $1,500 zone if it falls below the next important support level, $1,750, and continues to fall. Ethereum’s fundamentals remain strong, as seen by ongoing network upgrades and increased institutional interest despite the short-term pessimistic prognosis. Burniske’s methodical technique emphasises strategic posture over reactionary panic. Ethereum’s upcoming movements will be key in deciding if the worst is behind it, as the market seeks confirmation of a probable bottom.