A pair of crypto analysts are warning that Ethereum could be headed for a steep decline — one predicting a crash to $800, a 61% drop from the current price of around $2,100, while another flags a bear flag formation that could push the token below $2,000. The warnings come as ETH trades above $2,100, but both analysts see serious downside risk in the weeks ahead.
A 'catabolic' reset
Analyst Rafaela Rigo described the current cycle as "catabolic" and said a market reset is needed to weed out bad projects. She estimates Ethereum could bottom at $800, and in a more extended scenario, fall to $400 — a level not seen since 2019. That would represent a roughly 80% decline from current prices. Rigo previously predicted a drop to $1,900 in early 2024, a call that proved accurate.
Bear flag formation
Analyst Ted Pillows is watching a technical pattern called a bear flag. He warns that if ETH fails to hold support above $2,100, the next stop could be $1,960. That's less catastrophic than Rigo's forecast, but still a nearly 7% drop from current levels. Pillows' analysis hinges on the breakdown of a consolidation range that has held for several days.
What traders are being told
Rigo urged investors to avoid emotional trading and to monitor markets closely. She didn't provide a timeline for the predicted move, but her language — calling the cycle catabolic — suggests she expects the downturn to play out relatively quickly. The immediate test for Ethereum is whether it can hold above $2,100. If that level breaks, the next support zones become critical, with $1,960 the first line of defense.
