Coinbase Sees Ethereum Price Swings as Analysts Predict $6,000 Target Amid Market Volatility

Ethereum's price experienced significant volatility on Coinbase, dropping to $2,130 during a broader cryptocurrency market downturn. This decline briefly pulled Bitcoin below $100,000, sparking short-term fear among investors. Despite the sharp correction, analysts remain optimistic about Ethereum's long-term prospects, with one expert targeting a $6,000 price point based on Elliott Wave Theory. The analysis suggests that Ethereum has completed a Wave A correction, finding support between $2,134 and $1,957. This mixed sentiment highlights the ongoing tension between market volatility and bullish long-term predictions for ETH.

Ethereum Price Volatility Sparks Fear and Optimism Amid Analyst Predictions

Ethereum's price plunged to $2,130 on Coinbase during a broad crypto market downturn, briefly dragging Bitcoin below $100,000. The sharp correction triggered short-term fear, but analysts remain bullish on ETH's long-term trajectory, with one targeting $6,000.

Technical analyst @CryptoWaveV applied Elliott Wave Theory to identify a completed Wave A correction, with ETH finding support between $2,134 and $1,957. The forecast suggests a potential Wave B rebound to $2,792 before a final Wave C decline toward $1,706, after which a sustained rally could begin.

Market sentiment appears divided between immediate concerns over the drop and growing institutional confidence in Ethereum's fundamentals. The $6,000 projection reflects accumulating bullish factors including network upgrades and ETF speculation.

Daily Market Highlights: Bitcoin Breaks $106K as Institutional Demand Surges

Bitcoin surged past $106,000 amid easing Middle East tensions and a landmark $1 billion merger announcement by Anthony Pompliano to launch ProCap Financial, a BTC-focused firm. The move signals deepening institutional adoption, with the new entity planning to hold up to $1 billion of Bitcoin on its balance sheet.

Ethereum rallied 8.4% as developers proposed halving block times to 6 seconds, while ethereum ETFs crossed $1 billion in net inflows. Baillie Gifford's launch of the first FCA-approved tokenized fund on Ethereum further cemented its institutional appeal, despite a $313 million whale deposit to Coinbase raising sell-off concerns.

Altcoins gained traction as XRP built momentum on ETF speculation and SOL advanced through real-world integrations in Kazakhstan. The broad-based rally reflects renewed risk appetite as geopolitical tensions ease, with investors favoring narrative-driven assets aligned with institutional infrastructure.