Ethereum Lacks Demand, ETH Price Could Fall To $2,811

Bittime - Ethereum (ETH) is facing significant market pressure. In the last 24 hours, the price of ETH recorded a decline of 2%, in contrast to the relatively stable crypto market conditions. 

This decline was triggered by weakening demand for Ethereum, which worsened its short-term price outlook. It is estimated that the price of ETH has the potential to fall below $3,000 (around IDR 48.9 million), even reaching $2,811 (around IDR 45.81 million) in the near future.

This condition adds to investors' concerns, considering that Ethereum has been the main choice for blockchain developers and the DeFi (Decentralized Finance) sector. However, recent trends in the market indicate waning interest in ETH, further magnifying the risk of further price decline.

Downtrend In ETH Technical Indicators

Source: BeIn Crypto

Looking at the daily chart of ETH/USD, technical indicators are showing negative signs. One indicator to pay attention to is the Relative Strength Index (RSI), which is currently at 42.61. 

This figure shows that buying pressure is starting to weaken, considering that the RSI value is lower than the neutral figure of 50.

RSI functions to assess whether an asset is in an overbought (overbought) or oversold (oversold) condition. A value below 50 indicates reduced buying interest, which worsens the Ethereum price outlook. 

Read also: Vitalik Buterin Announces New GOALS After Leadership Change at Ethereum Foundation

On the other hand, the Chaikin Money Flow (CMF) indicator also shows a larger flow of funds out of ETH, indicating increased selling pressure.

If the CMF falls further below the zero line, it will strengthen existing bearish signals, leading to a deeper price decline.

ETH Price Prediction: At Risk of Falling to $2,811

At the time this article was written, ETH was trading at $3,310 (around IDR 54 million), with a strong resistance level at $3,249 (around IDR 52.99 million). 

With reduced buying pressure, the price of ETH is predicted to have the potential to fall below $3,000 (around IDR 48.9 million), even reaching $2,811 (around IDR 45.81 million) in the near future.

However, if market sentiment improves, Ethereum has the opportunity to recover and penetrate the resistance level at $3,249, with an upside target towards $3,476 (around Rp. 56.62 million). Factors such as increased developer activity or wider adoption in the blockchain sector could be drivers of price recovery.

Read also: Ethereum Prediction 2025: Upward Target to $4,800 To $8,000

FAQ Ethereum

Why is Ethereum demand down?

Demand for Ethereum is decreasing due to weakening buying momentum, which is reflected in the RSI and CMF indicators. Increased selling pressure also influences price declines.

What is the price prediction for Ethereum in the near future?

The price of ETH is estimated to have the potential to fall to $2,811 (around IDR 45.81 million) if selling pressure continues to increase. However, with improving market sentiment, the price could rise to $3,476 (around IDR 56.62 million).

Is ETH suitable for long term investment?

Ethereum has bright long-term prospects thanks to its role in the blockchain and DeFi ecosystem. However, high price volatility requires investors to conduct in-depth analysis before deciding to invest.

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Reference 

BeIn Crypto, Ethereum’s Dropping Demand Could Send It Under $3,000, accessed January 20, 2025.

coinmarketcap, Ethereum Coinmarketcap, accessed January 20, 2025.

Author: Y