Like most altcoins, Ethereum (ETH) has seen its price succumb to the negative market sentiment in recent weeks. This unfavorable market condition has consistently caused the second-largest cryptocurrency to trade beneath the $1,700 level.

Could Ethereum Price Fall To $1,200?

In an X post dated Wednesday, September 6, crypto analyst Ali Martinez offered insight on the price of Ethereum. The analyst shared that the value of ETH faces a potential significant correction to $1,200 if it stays below $1,680.

Using data from the blockchain analytics platform IntoTheBlock, Martinez’s projection revolves around the purchasing areas where most investors acquire ETH. According to the analytics platform, the price zones beneath the range of $1,633 to $1,681 are “weak purchasing areas,” which hint …