The Ethereum price is currently trading around $2,100 due to bearish pressure in the market. Even with a positive crypto trend from 2023, Ethereum was not able to sustain the upward trend. Other altcoins have risen, but the holders of ETH have witnessed low returns in the past several months.
Ethereum price continues to be unpredictable after the decline was recorded for 12 weeks. This could be attributed to the Ethereum Foundation’s slow approach to make improvements on the network. In addition, Solana emerged as an “Ethereum killer” backed by investors, reducing Ethereum popularity. These factors have cast some doubts about the ETH price direction in the future.
Ethereum Price Faces Strong Resistance After 12 Weeks of Decline
Ethereum price has dropped 49% from its peak of $4,087 on December 2, 2024. The price now trades near $2,076, marking a steep decline. Since January, Ethereum price has tested the $2,100 support level five times, increasing concerns among investors.
Frequent retests of key support levels often indicate that a liquidity sweep may be coming. Many traders have placed buy orders below $2,100, hoping for a strong rebound. If this liquidity is taken, Ethereum price prediction suggests a potential bullish reversal could follow.
Ethereum Price Prediction: How Low Can ETH Go?
Ethereum price remains under pressure as technical indicators point to further downside risks. The Relative Strength Index (RSI) failed to break above the 50 level, confirming strong bearish momentum. The Awesome Oscillator (AO) also shows three consecutive red histograms, reinforcing the ongoing downtrend.
Ethereum news indicates that if bearish sentiment persists, ETH could drop below $2,000. The market has already formed equal lows at $2,100, making this a crucial level to watch. A break below this support could lead to further declines toward lower price targets.
Ethereum News: Factors That Could Trigger a Rebound
Notably, there are several possible factors for the shift on Ethereum, which can stimulate further price growth. The Ethereum Foundation has had some internal issues, which affected its leadership terms. Ethereum founder Vitalik Buterin and Aya Miyaguci have engaged in disagreements about the direction of the Foundation. The dismissal of Miyaguci and the move toward staking services may be all it takes to restore investor confidence again.
This outlook may also boost Ethereum price prediction if the events subsequently cause a fresh round of buying frenzy. Some plans of the Crypto Summit to be held on March 7 are to be announced. An investment plan on digital assets could catalyze ETH to start reversing in case of integration into Ethereum.
Ethereum Price Outlook Remains Uncertain
Ethereum price continues to lag behind other major cryptocurrencies despite strong market conditions. The lack of institutional interest has contributed to its underperformance. Many traders are now looking to Bitcoin for signs of a broader crypto market recovery.
ETH price prediction is still volatile and highly dependent on if ETH is capable of regaining the lost key points. This movement could reverse and take ETH price to higher levels in case of bullish triggers. However, the current trend which is somewhat bearish is expected to continue with further losses before the uptrend kicks in.
Mahsa Rezaei is a forward-thinking crypto journalist based in Tehran with a strong background in computer science and finance. Specializing in blockchain technology and its impact on Iran’s economic reforms, her investigative articles and in-depth analyses are widely read by tech enthusiasts and policy makers alike.