Crypto analyst Marcus Corvinus discussed the recent Ethereum price crash, suggesting it’s a minor setback before a potential uptrend. He noted Ethereum’s resilience, stating it has shown higher lows compared to Bitcoin’s lower lows, indicating strength under pressure. Corvinus observed declining bearish volume and a Hidden Bullish Divergence RSI, signaling a continuation setup. He believes Ethereum is consolidating rather than reversing, targeting $7,000 to $8,000 in the current cycle. Meanwhile, BitMEX co-founder Arthur Hayes indicated Ethereum may drop to $3,000 before rallying, citing insufficient liquidity to support a surge. Currently, ETH is trading near $3,500, down nearly 5%.
