The cryptocurrency market is undergoing a strong correction phase as both Bitcoin (BTC) and Ethereum (ETH) face increased selling pressure. Ethereum – the largest altcoin – has fallen back below the 2,800 USD mark, turning this price level into an important barrier. With the inability to hold the short-term support around 2,400 USD, the question arises: Will ETH still have a chance to reach the 3,000 USD mark in 2025?
Where is the Downtrend Coming From?
This drop is not an accidental event. It is a direct consequence of escalating geopolitical tensions in the Middle East, specifically between Israel and Iran. Within 24 hours, the market recorded over one billion USD being liquidated, leading to a sharp decline and a clear shift from bullish to bearish – reflected in the inverted 'V' pattern.
ETH has lost all the profits gained in the previous days. This nullifies many positive signals that the market once hoped for. However, there is still hope. On the technical chart, ETH is still moving within a parallel price channel – not breaking the trend structure. At the same time, the price is fluctuating between the 50-day moving average (MA50) and the 200-day moving average (MA200), approaching the golden cross – a signal often implying a strong upward reversal.
A notable negative point is that the RSI index is still stuck in a downward parallel channel – reflecting prolonged negative sentiment. If the correction continues, ETH may test the 2,400 USD support level again before it can bounce back to test the resistance above.
Altcoin Season: Hope Amid Doubt
The question now is not just about Ethereum. Many investors are beginning to wonder whether Altseason – the explosive growth phase of altcoins – could occur in the second half of 2025 or will be delayed until 2026?
The current data is not very optimistic. Although ETH is being defended by the bulls at some support levels, there is still no technical pattern confirming a clear reversal. More importantly, Bitcoin dominance – a measure of BTC's relative strength against the entire market – is rising again. This indicates that capital is returning to BTC, overshadowing opportunities for altcoins.
The Altcoin Season Index once surpassed the neutral level, creating expectations that 'altcoin season' is approaching. However, this index unexpectedly plunged back, meaning the market is still in 'Bitcoin season'. With altcoins unable to create breakthroughs in price or trading volume, it is highly likely that Altseason will continue to be delayed.
Possible Scenario
Short-term forecasts show that ETH is still in the correction zone. If it cannot hold the support level of 2,400 USD, the price may slide deeper. However, if ETH can maintain this level and combined with a decline in Bitcoin dominance below 55%, the altcoin market could recover strongly by the end of 2025.
Looking further ahead, the future of Ethereum remains closely tied to the macroeconomic situation, global capital flows, and of course – the movements of Bitcoin. Reaching the 3,000 USD mark in 2025 is not impossible, but it will require more than just hope – it will need a collective change from the market, policies, and investor sentiment.