3 Reasons Why Ethereum (ETH) Could Drop to $2,000

Ethereum, the largest altcoin by market capitalization, slipped about 15% over the prior month to trade just above $2,300, with analyst Ali Martinez saying it could reach $2,000. Martinez said ETH was rejected near $2,400 on October 28 after on-chain transaction volume exceeded $100 billion, while Santiment data showed large investors reduced holdings by about 160,000 ETH, nearly $350 million, over five days; exchange-held ETH rose by 100,000 coins, about $240 million. He added that ETH lost $2,385 support and broke a daily-chart pattern that he said pointed to $2,000 if selling continued. Other cited signals included a Relative Strength Index just above 30, near oversold territory, and a $45 million long position with 25x leverage.