The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Trader Issues Ethereum Warning, Says ETH Could Suffer Price ‘Destruction’ After Rallying – Here’s the Timeline

by Daily Hodl Staff
August 12, 2023
in Ethereum

A pseudonymous crypto trader is warning that the leading smart contract platform Ethereum (ETH) could collapse after a big run to the upside.

In a new strategy session, Altcoin Sherpa says that it is within the realm of possibility for Ethereum to rally well above $2,000 in the coming months.

However, the analyst says that ETH will likely see a swift and deep correction following the surge.

“It wouldn’t surprise me to see something like [a move to $2,5000] and then like, you know, come back down, maybe like $1,500 or whatever. And then we just chop around. There’s going to be some big rallies throughout this range. Don’t get me wrong. Like, for example, it wouldn’t surprise me as I said to go up to $2,500, but I’m still conflicted.

I don’t think that $1,000 is going to come again. But it wouldn’t really surprise me at all to see some late-year destruction where we get down to like $1,500. It’s certainly possible in my opinion. But again, it’s going to depend on the next few weeks, months on how we get up.”

Source: Altcoin Sherpa/YouTube

Looking at his chart, the trader appears to predict that ETH could climb to $2,500 in November of this year and decline to about $1,500 in early 2024. The chart shows ETH crossing $1,800 again sometime in March 2004.

The trader also says that ETH’s price action is not convincingly forming a bull cycle.

“I think that it’s just an overall choppy consolidation range right now. I don’t think there’s truly any strong convincing move personally. Yes, you can say this is a bullish market structure, because there are higher highs and higher lows, but it’s not very convincing in the sense that the higher highs are not super high. They don’t convincingly break the previous highs. And the same thing with the lows. They’re just kind of grinding up.”

Source: Altcoin Sherpa/YouTube

Ethereum is trading for $1,849 at time of writing, down 0.1% in the last 24 hours.

I

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Submit a Press Release

Industry Announcements

  • MultiBank Group to List MBG Token on Gate.io and MEXC During Official Token Generation Event
    July 18, 2025
  • GSR Leads $100M Private Placement into Nasdaq-listed MEI Pharma to Launch First Institutional Litecoin Treasury Strategy Alongside Charlie Lee
    July 18, 2025
  • KuCoin Launches xStocks, Delivering a One-Stop Access Point to Top Global Tokenized Equities
    July 18, 2025
  • PlayW3 Unleashes ‘Be the Boss,’ a New On-Chain Business Model That Turns Creators Into Owners – Over $320,000 Already Paid Out
    July 17, 2025
  • Streamex (BSGM) CEO Henry McPhie Highlights BSGM Merger and RWA Tokenization Strategy in Live TV Interview
    July 17, 2025
  • Numerai Announces $1 Million Strategic Buyback of NMR
    July 17, 2025
  • Bit Origin Secures $500 Million Equity and Debt Facilities To Launch Dogecoin Treasury
    July 17, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$117,789.56
$117,789.56
0.99%
Ethereum
$3,547.54
$3,547.54
3.62%
BNB
$735.67
$735.67
1.82%
Solana
$176.37
$176.37
1.41%
XRP
$3.37
$3.37
3.66%

Spotlight

  • Bitcoin Primed for the Next Major Parabolic Advance, Says Crypto Analyst Kevin Svenson – Here Are His Targets
    July 11, 2025
  • Trader Outlines Catalysts That Could Trigger 350% Bitcoin Rally, Updates Outlook on Ethereum and Avalanche
    July 11, 2025
  • ‘This Could Very Well Be the Ultimate Bull Trap’ – Trader Issues Urgent Crypto Warning As Bitcoin Blasts Past $118,000
    July 11, 2025
  • Banks With One ‘Deficient’ Rating Could Still Be Considered ‘Well Managed’ Under New Federal Reserve Proposal
    July 11, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl