Ethereum News: Potential 13% Crash Predicted as Price Nears $2,200 Resistance

The cryptocurrency market is always full of surprises, and Ethereum is no exception. Recent analysis suggests that the Ethereum price could be heading for a significant decline, with a potential 13% crash predicted. Here’s what you need to know.

Ethereum Price Nears Major Resistance At $2,200, Potential 13% Crash Predicted

A crypto analyst has predicted that the Ethereum price could experience a 13% crash to $1,700. Currently, Ethereum is hovering near the crucial $2,200 resistance level. A rejection at this level could fuel further volatility and trigger a significant decline. MadWhale, a TradingView crypto expert, shared an Ethereum price chart showing that the cryptocurrency is moving within a Descending Channel, which is generally considered a bearish chart pattern.

Tornado Cash Removed From US Treasury’s OFAC Sanctions Roster

Tornado Cash, a cryptocurrency mixer accused of facilitating the laundering of stolen funds by North Korean hackers, has been removed from the US sanctions list. This decision follows a November appellate court ruling that determined the US Treasury Department had exceeded its authority in imposing sanctions on the platform. Tornado Cash had been on the Specially Designated National and Blocked Persons (SDN) list since 2022, accused of laundering more than $455 million in cryptocurrency stolen by hackers associated with North Korea.

Ethereum Whales Pounce On The Dip, Snag $236 Million In ETH

While some crypto traders might see Ethereum’s price decline as a bad sign, whales are seizing the opportunity by increasing their holdings. Large investors have bought a huge volume of Ethereum in the last three days. Analysts said that Ethereum’s price continues to fall as the broader cryptocurrency market experiences challenges. As of now, Ethereum is traded at $1,988 per coin, with a market cap of nearly $240 billion. Since ETH hit $3,640 per coin on January 6th, it has struggled to gain upward momentum and continues to stumble below $2,000.

Ethereum Breaks 3-Week Streak with a 4% Gain: What’s Next for ETH?

After weeks of downward pressure, Ethereum’s price finally bounced, closing with almost a 4% gain. The price recovery briefly brought ETH back to around $2,000 before a pullback began. Buyers must push ETH back above the $2,000 mark to reverse the current downtrend that has been in place since late 2024. This price bounce represents a critical moment for ETH’s future direction and price trajectory.