30 August 2026
Ethereum Downtrend Is About To End
The crypto strategist who predicted Bitcoin’s (BTC) 2018 bear market bottom now claims that Ethereum is likely in the final stages of its downtrend.
The crypto strategist known as Smart Contracter tells his Twitter followers that is close to completing its final leg down before turning bullish.
According to him, Ethereum will fall to around $1,200 by next month before rallying toward his target above $2,000.
“We’re in the final innings of this ETH correction, correcting the rise from July.
Have been mapping this out step by step since August top, only 10% or so more down to go before we begin to look for long-term buys.
He is one of the top practitioners of the Elliott Wave theory, a technical analyst approach that attempts to predict future price action by following crowd psychology that tends to manifest in waves.
As per the chart, Ethereum is in the midst of a C wave down, which he believes would set the stage for a new leg up.
In the previous month, Ethereum was trading around $1,600, Smart Contracter predicted that ETH would print a lower high around $1,800 (B wave) this month before establishing a local bottom for the next rally.
So far, Ethereum appears to be following the analyst’s script.
“Looks like the larger ABC correcting the five-wave rise has begun on ETH. This looks like an A wave for now, expecting a bounce that ends up being a lower high soon.
$1,300 is still the spot to look for buys in my opinion provided the structure looks right when we get there.”
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.
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