Ethereum Price Looks Set To Crash To $1,000-$1,500, But Can It Fill The CME Gaps Upwards To $3,933

Ethereum Breaks Below Key Support, Larger Breakdown Ahead

The loss of the $1,800 support has strengthened the bear case for Ethereum, especially amid broader weakness in the altcoin market. One of the more blunt takes comes from crypto analyst Andrew Kang, who argued that the price of Ethereum is actually overvalued. He described Ethereum’s $215 billion market cap as "ridiculous" for what he calls a "negative growth/profitability asset."

According to Kang, the momentum of speculative winds that used to ignite Ethereum’s price surge has run dry, and a revisit of the $1,000 to $1,500 zone is not only likely but overdue. What adds weight to Kang’s warning is how quickly the market appears to have validated his concerns.

Since his statement, Ethereum’s market cap has dropped significantly, sliding to $186.5 billion at the time of writing. Although the decline is due to other market factors, the pace and depth of this decline suggest that investor confidence in Ethereum may be lower than expected, with no immediate signs of reversal in sight. If bearish pressure continues, Ethereum could soon find itself trading at the lower end of Kang’s projected range at $1,000.

CME Gaps Above $2,500 Offer A Technical Outlook For Rebound

Even as price action trends lower, Ethereum’s CME futures chart tells a different story. Titan of Crypto pointed out that three distinct CME gaps are unfilled above the current market level. These include a gap between $2,550 and $2,625, another between $2,890 and $3,050, and a partially filled third gap between $3,917 and $3,933.

The CME gap theory is rooted in the observation that asset prices often return to fill these voids, even if the move takes weeks or months. In the case of Ethereum, the odds of a return to the CME gaps are very low in the short term.

However, considering Q2 2025 is only just starting, there is still enough time to witness the buying pressure needed to fill these levels before the end of the year. At the time of writing, Ethereum is trading at $1,540, down by 14.5% in the past 24 hours.

Conclusion

The Ethereum market is currently facing significant selling pressure, with the price breaking below a key support level at $1,800. Analyst Andrew Kang has warned that the price could potentially revisit the $1,000 to $1,500 zone, citing the momentum of speculative winds having run dry. On the other hand, the CME futures chart suggests that Ethereum could potentially rebound and fill three distinct gaps above $2,500.

FAQs

Q: What is the current state of the Ethereum market?
A: The Ethereum market is currently facing significant selling pressure, with the price breaking below a key support level at $1,800.

Q: What is the projected range for Ethereum’s price?
A: According to analyst Andrew Kang, the projected range is between $1,000 and $1,500.

Q: What is the CME gap theory?
A: The CME gap theory is rooted in the observation that asset prices often return to fill these voids, even if the move takes weeks or months.

Q: What is the likelihood of Ethereum filling the CME gaps?
A: The odds of a return to the CME gaps are very low in the short term. However, considering Q2 2025 is only just starting, there is still enough time to witness the buying pressure needed to fill these levels before the end of the year.