The biggest altcoin on the market
The Ethereum (ETH) could be about to hit a new low, according to a technical analysis recently shared by renowned cryptocurrency analyst Michaël van de Poppe. The prediction points to a correlation between Ethereum’s bottom and gold’s peak, an asset that has seen strong appreciation in recent months.
In his analysis, Van de Poppe expressed concern over the “disastrous price action” of Ethereum, which has struggled amid global economic and political uncertainty. However, the analyst sees a potential recovery for the asset once gold, boosted by factors such as US President Donald Trump’s tariff threats, reaches its peak.
“A massively disastrous chart for $ETH. Not sure where this will bottom out, though I suspect gold’s peak and Ethereum’s bottom will be correlated,” he wrote.
A massively disastrous chart for $ ETH. I don’t know where this will bottom, although I suspect that the peak of Gold and the bottom of Ethereum are going to be correlated.
– Michaël van de Poppe (@CryptoMichNL) March 29, 2025
A analysis
Van de Poppe suggests that gold, currently trading at around $3.153,71 an ounce, may be nearing an inflection point. The analyst believes that the uncertainties that have driven gold’s appreciation could ease in the coming weeks, leading to a correction in the price of the precious metal.
“Gold is rallying on uncertainty around Trump’s tariffs. I assume this will turn around in the next 1-2 weeks: – Uncertainty is over. – Maybe labor markets are getting weaker. ‘Buy the rumor, sell the news’ type event.”
At the time of publication, the price of Ethereum was quoted at US$1.825,53, up 0.3% in the last 24 hours.