Ethereum (ETH) has fallen below $2,000 for the first time this year, hitting its lowest point since October. This represents a significant drop of 57% from its December 2024 high of $4,100.
A Market in Trouble
The broader crypto market is down, mirroring struggles in the US stock market. Concerns about trade wars and economic uncertainty are driving investors to sell off assets, creating a “risk-off” environment. This is making it tough for Ethereum to find its footing.
Key Support Levels Under Pressure
According to on-chain data (specifically, MVRV Pricing Bands), Ethereum is testing crucial support levels around $2,060 and $1,800. Historically, this area has acted as a strong support zone.
What Happens Next?
If Ethereum can’t hold above $2,060, analysts predict a further drop to around $1,440. This would be a substantial loss. Conversely, holding above $2,060 could signal a potential recovery.
ETH’s Current Struggle
Ethereum is currently trading around $1,900, after significant selling pressure pushed it as low as $1,750. Bulls (those betting on price increases) are trying to push the price back above $2,000 to stabilize the market. Success here could lead to a recovery, while failure could mean further price drops.
The Bottom Line
The next few days are critical for Ethereum. Whether it can regain its footing above $2,000 will determine its short-term future. The market remains volatile, and investors are watching closely.
