Will the price of Ethereum decline in the long term? The reason turns out to be this???

The price of Ethereum is currently below $3500, and it seems to be on a downward trend because a bullish pattern called 'Adam and Eve' has failed. Everyone is now guessing whether Ethereum can hold the two prices of $3392 or $3244.

Bitcoin's price is also fluctuating around $100,000, which makes Ethereum's upward momentum look a bit weak. There are concerns that by 2025, the price of Ethereum, the largest altcoin, may face a long-term decline.

Now let's talk about Ethereum's price analysis.

We mentioned before that it's a bit difficult for Ethereum to break through $3500, as the 100-day moving average is blocking it. The 'Adam and Eve' bullish pattern was initially promising, but now it seems to be stalled, with prices oscillating within a range.

Currently, the price of Ethereum is $3431, having dropped 1.79% in the past 24 hours. On the 4-hour chart, it seems that a bearish cross has appeared, indicating that the downward momentum is strengthening.

Some large holders, also known as 'whales,' are also selling Ethereum.

A large holder recently sold 4160 Ethereum for $14.5 million. This holder had bought a lot of Ethereum a long time ago, sold some previously, and now has 7943 left, which is worth $24.6 million at current prices.

What will happen to the price of Ethereum next?

From the current indicators, Ethereum may continue to decline and may first test whether the two prices of $3392 and $3244 can hold.

Of course, if the overall market situation improves, Ethereum may still have a chance to push towards $3500 again.

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