Buy the Ethereum Price Crash to $2,000 Says Expert, Citing $10K Long-Term Target

Key Insights:

• Expert argues that the Ethereum price sell-off has created a long-term accumulation zone, with targets as high as $10,000–$20,000 over the next cycle.
• In the short term, ETH holding above $2,200 could lead a bounce toward $2,500 and a 10%–15% relief rally.
• Tom Lee’s BitMine continues accumulating ETH despite over $6.5 billion in unrealized losses.

The Ethereum price has crashed all the way under $2,200 amid the broader market correction. Furthermore, the ongoing outflows from spot Ether ETFs indicate that institutional sentiment is waning. However, after facing more than a 50% drop in the last six months, market experts believed that this could be the time for ETH accumulation.

Market Experts Shares Bullish Take on Ethereum Price

Popular analyst Crypto Patel Ethereum price has dropped 40% after the bearish breakdown at $3,500. Patel noted that when Ethereum was trading near $3,850, he cautioned that a break below the $3,500–$3,600 range would signal significant downside risk. Since then, ETH has dropped to around $2,200, validating that bearish scenario.

However, he said that after this deep correction, now could be the time to buy the ETH dips. Patel disclosed that his first entry near $2,200 has already been filled, while placing additional buy orders in the $1,850 to $1,550 range. He added that Ethereum has a strong support there.

Looking ahead, Patel said he remains confident in Ethereum’s long-term upside. The analyst has shared bullish Ethereum price targets of $10,000, $15,000, and eventually $20,000. He argued that 500% to 1,000% moves are not unusual during strong altcoin cycles.

Furthermore, on a multi-year chart, Crypto Patel noted that Ethereum price is following the ascending channel pattern. As shown in the chart below, ETH is currently in an accumulation zone near $2,200. Thus, a bounce back from the current levels could set the stage for a potential journey to $15,000.

Short Term Ethereum Price Movement

While Crypto Patel has been bullish about the long-term outlook, some market analysts are bearish on the short-term outlook. Another expert, Ted Pillows, noted that $2,200 is a crucial accumulation zone. Exactly from there, Ethereum price has bounced back and is now trading at $2,322.

Pillows noted that ETH could soon bounce to $2,500 if bulls hold the $2,200 support level. However, he warned that a decisive breakdown below this level could open the door to a deeper decline toward the $1,700–$1,800 range.

On the upside, Pillows said a recovery back above the $2,500 level would likely trigger a relief rally of roughly 10% to 15%. This hints at a short-term stabilization after the recent rally.

BitMine Faces Strong Losses On Ethereum Holdings

Despite a 25% drop in ETH prices over the past month, Tom Lee’s BitMine Technologies (NASDAQ: BMNR) continued to accumulate ETH. However, the company is facing more than $6.5 billion in unrealized losses on its ETH accumulation.

The company accumulated its ETH at an average purchase price of $3,883 per token. With the Ethereum price now trading at $2,300, the losses seem monumental. However, Tom Lee’s conviction remains unshaken as the firm purchased another 41,788 ETH over the past week. Commenting on his recent purchase, Lee said:

“In the past week, we acquired 41,788 ETH. Bitmine has been steadily buying Ethereum, as we view this pullback as attractive, given the strengthening fundamentals. In our view, the price of ETH is not reflective of the high utility of ETH and its role as the future of finance.”

On the other hand, whale entities have also been selling ETH in big numbers. A very popular BitcoinOG (1011short) whale transferred 121,185 ETH, worth $292 million, to Binance over the last two days. Blockchain data shows that a portion of the proceeds was then converted into stablecoins. The whale withdrew $92.5 million and used it to repay outstanding debt on the Aave lending protocol.

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