Ethereum Risks Another 15% Correction After Fall Below $2,000
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Ethereum (ETH) revisited annual lows every year after losing $2,000 in key support and achieved its worst performance over the years. Some analysts predict that if the trend continues, it will drop another 15%, but recommends that ETH be bullish at the end of the year.
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Ethereum clicks for 17 months
Ethereum made a 15% correction on Monday, down from $2,150 to $1,810. ETH’s performance is after Bitcoin (BTC) and the rest of the market Pull backFlagship cryptocurrency has dropped to $76,000 for the first time since the post-election breakthrough began.
As the review continues, the second-largest cryptocurrency by market capitalization has dropped to its lowest level since November 2023, hitting a $1,750 mark before recouping $1,900 support.
Some market observers point out that Ethereum has been in a three-month downward trend, and has since fallen by about 53% since its December peak. Trader Crypto Rand Famous King Altcoins has 20 days of “Going Green” or “This is the first time ETH has experienced 4 months of redness since 2018.”
That year, ETH recorded double-digit losses for seven consecutive months, from May to November, about 80% of its value. March is often a favorable month for cryptocurrencies, with an average return of 20% since 2016, according to the bistro.
In 2024, cryptocurrencies ended the month with a 9.33% return after performing 46% in February. However, market sentiment fell after negative back-to-back performance this year, with January and February falling by 1.98% and 31.95% respectively.
Cryptocurrency register 15.12% loss month to date (MTD), and the current level can be seen when the worst Q1 shutdown since 2018. As a result, Ethereum must be above $2,237 this month to prevent its second-worst historical performance.
ETH fell to $1,600?
Some market observers stress that cryptocurrencies are currently performing at levels caused by FTX, and sentiment tends to be more deeply corrected. Crypto Analyst TED Pillow Famous Now that the $2,000 support has been lost, Ethereum may make another 15% correction.
According to the post, with “the manipulation phase is in progress, it is very likely that ETH will retest the level of 1.6k-$1.8k”. Analysts propose potential power for three (PO3) modes on ETH’s chart, dividing the price cycle into three unique stages: accumulation, manipulation, and distribution.
this accumulation The phase consists of a recent high merger after strong prices. During the manipulation phase, the token price is below the support level in the accumulation phase and trades within the range below the lost area. Meanwhile, the distribution phase saw a strong price breakthrough to build momentum and drive participants into the market.
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It’s also Ted statement ETH’s current performance “feels like a trading in the 2016-17 cycle.” At the time, Ethereum consolidated for about a year and dropped below the main support level of the range to a few weeks before soaring to a new high.
ETH “has been merged for a year now and has recently broken down at key support levels”, suggesting that if history is repeated, the second half of 2025 may be bullish on cryptocurrencies.
At the time of writing, Ethereum is trading at $1,947, an increase of 4.47% on the daily timeframe.
Featured images from Unsplash.com, charts from TradingView.com
