3 Reasons Why Ethereum (ETH) Could Drop to $2,000

The largest altcoin by market capitalization has plunged roughly 15% over the past month and currently trades just above $2,300. The recent downturn has sparked pessimism, with some analysts warning that the asset could slide further to the key psychological level of $2,000. At the same time, certain factors suggest a resurgence may be just around the corner. The Bearish Perspective The popular analyst Ali Martinez noted that as ETH approached $2,400 on October 28, on-chain transaction volume surged past $100 billion. At that moment, the price was rejected and retreated toward $2,300. He said whale activity may have affected Ethereum’s performance and cited Santiment data showing that large investors reduced their exposure by roughly 160,000 ETH, worth nearly $350 million, in just five days.

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