Ethereum price could be on the verge of “death” as historical chart patterns hint that the largest altcoin could be following BlackBerry’s footsteps. The ETH price chart against Bitcoin and Ripple (XRP) has a striking similarity to BlackBerry’s collapse against Apple in the early 2000s. This indicates a bearish future for Ethereum. Amid these headwinds, how low will ETH price drop? Let’s explore.
BlackBerry & Apple Charts Hint At Dire Ethereum Price Future
Ethereum price chart against its top competitors like Bitcoin and XRP suggests that ETH could be trouble. This is after the altcoin breached the lower trendline of the symmetrical triangle pattern on the ETH/BTC and ETH/XRP price charts.
This pattern is similar to how BlackBerry performed against its top competitor Apple in the early 2000s. As Apple gained market share, BlackBerry’s performance dwindled and after BB/AAPL made a bearish breakout from the symmetrical triangle pattern, it never recovered.
BlackBerry vs. Apple
If Ethereum follows this pattern, the price could be on the verge of a major drop. Besides, ETH is about to close one of its worst Q1s in history with consistent monthly drops since the year began. With an Ethereum selling spree pushing the price down, ETH could fail to recover in the near term.
As historical patterns hint at a bearish Ethereum price prediction, how low will it go?
ETH/BTC Faces Another 30% Drop As XRP/ETH Hits 5-Year High
Bitcoin’s rising dominance and institutional interest have been weighing on the Ethereum price. ETH/BTC has fallen to 0.02287, marking its lowest level since early 2021.
ETH/BTC could be on the verge of another drop after forming a rounding top pattern, suggesting that the broader trend had flipped from bullish to bearish. ETH could continue dropping within this pattern to the neckline of $0.016.
ETH/BTC: 1-Week Chart
Meanwhile, XRP/ETH has surged to 0.00125, marking its highest level since March 2020. This follows a massive XRP price rally in late 2024. Moreover, as institutional interest in Ripple rises, this altcoin could continue to outperform Ethereum.
XRP/ETH: 1-Week Chart
One of the factors causing Ethereum price to underperform against Bitcoin and XRP is a lack of demand from institutions. Data from SoSoValue shows that in the last three weeks. Spot ETH ETFs have seen $598M outflows. As this demand weakens, the price of ETH will continue to face challenges.
Crowd Sentiment on Ethereum Plummets – Bullish or Bearish?
Data from Santiment reveals that the crowd sentiment on Ethereum has declined significantly, and currently shows that traders are extremely fearful. However, according to the on-chain analytics platform, the current sentiment hints at a potential breakout.
Ethereum Crowd Sentiment
Historical trends show that when the market sentiment is negative, it often triggers a recovery for the Ethereum price. If this drop marks a local bottom, it could push ETH price higher and possibly precede a bullish reversal.
The post How BlackBerry, Apple’s Chart Hints Dire Ethereum Price Future Against BTC and XRP appeared first on CoinGape.
