Market analyst Ali Martinez suggests that Ethereum's current dip could be the last before a rally to $10,000, drawing comparisons to the S&P 500's market trends.
On-chain data shows that a significant portion of Ethereum holders are currently profitable, indicating underlying support for the asset. However, a majority of active addresses are at break-even levels, reflecting market indecision.
Contrasting views exist on Ethereum's outlook, with trader Peter Brandt maintaining a bearish stance and suggesting a potential crash to $1,551 unless new patterns emerge.