Haciyev Reşit 
Although the cryptocurrency market has recently shown signs of recovery, some analysts believe the downtrend has not yet fully ended. During the latest upward move in the market, Bitcoin managed to climb above $72,000, while Ethereum rose above the $2,100 level. While some investors interpret this rally as a sign that the market is regaining strength, analysts warn that caution is still necessary.
When on-chain data and market dynamics are examined closely, several indicators suggest that the downside risk has not completely disappeared. Evaluations by the analytics firm CryptoQuant also indicate that investors should remain cautious about Ethereum’s short-term price outlook. According to experts, despite attempts at recovery in the market, some fundamental indicators show that price movements could still remain under pressure.
CryptoQuant Analyst: ETH Could Fall to $1,500
According to Julio Moreno, Head of Research at CryptoQuant, Ethereum’s price could drop to lower levels if the bear market continues. Based on Moreno’s assessment, if the current downtrend persists, ETH could decline to around $1,500 by the end of the third quarter or the beginning of the fourth quarter of 2026.
The analyst notes that this scenario could unfold particularly if selling pressure in the market remains strong and capital inflows into crypto assets stay weak. Moreno adds that a low investor risk appetite and an increase in the amount of ETH sent to exchanges could be key factors putting downward pressure on the price. Therefore, he emphasizes that market dynamics and on-chain data should be closely monitored.
Adoption Paradox in the Ethereum Network
One of the most notable points in CryptoQuant’s analysis is the disconnect between increased usage of the Ethereum network and its price performance. Analysts describe this situation as an “adoption paradox.”
According to the data, the number of daily active addresses on the Ethereum network has recently reached an all-time high, even surpassing the levels seen during the 2021 bull market. Despite this, Ethereum’s price has fallen by more than 50% from its cycle peak.
This situation represents a significant deviation from the classic pattern observed in previous market cycles. In earlier periods, increases in network usage typically moved in parallel with price growth.
Structural Changes Could Impact ETH Price
According to CryptoQuant analysts, several structural changes are taking place in the Ethereum ecosystem compared to previous market cycles. If the bear market continues, these changes could create additional pressure on ETH’s price.
Analysts shared the following assessment:
“In previous periods, growth in network activity and price increases usually occurred simultaneously. However, the gap between user growth and price trends is widening.”
This indicates that although Ethereum is experiencing strong growth in network usage, its price performance has not followed at the same pace. Julio Moreno also pointed out that Ethereum currently has a higher exchange inflow rate compared to Bitcoin. According to the analyst, the fact that more ETH is being sent to exchanges could signal stronger selling pressure in the market. This is also considered one of the reasons why Ethereum has recently underperformed Bitcoin.
What Does Ethereum Need to Exit the Bear Market?
According to Moreno, several critical market conditions need to change for Ethereum to exit the current bear market. In particular, the following factors are important:
- An increase in positive capital inflows into Ethereum
- A decline in the amount of ETH sent to exchanges
- A reduction in overall market selling pressure
If these conditions are met, a stronger recovery in Ethereum’s price could occur. Although the Ethereum network continues to show strong growth in terms of usage, its price performance has not progressed at the same pace. According to CryptoQuant analysts, if market conditions do not change, ETH could decline to $1,500 in the coming period. However, if institutional capital inflows increase and selling pressure weakens, a more positive market outlook could emerge for Ethereum.
Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our Telegram, YouTube and Twitter channels for the latest news and updates.