While investors had been clinging to hope for a market turnaround, Ethereum has plummeted to devastating lows not seen since November 2023. ETH is now trading at a dismal $2,073, marking a 15% nosedive in just 24 hours and testing the $2,000 psychological barrier.
Ethereum’s catastrophic plunge to $2,073 shatters investor hopes as the crypto titan tests critical $2,000 support.
This isn’t just a bad day—it’s potentially ETH’s worst Q1 performance ever, with prices down 36% since January.
So what happened? Take your pick: macro-economic pressures, trade tensions, or just good old-fashioned panic selling. Institutional investment trends have reversed dramatically as major financial players pull back from cryptocurrency markets. Whales are dumping, traders are running, and $165 million in ETH long positions got absolutely decimated in half a day. Brutal.
Technical analysts—those chart-obsessed folks who thought they had it all figured out—are watching support levels at $2,026 and $1,885 with bated breath. Below that? The dreaded $1,645 zone looms. Some experts have identified $2,355 as a crucial support level that could determine whether the current decline continues.
Meanwhile, 90% of indicators are flashing red, and the Fear & Greed index sits at a terrifying 15. Extreme fear, indeed.
The institutional cavalry isn’t coming to rescue ETH either. Those fancy new Ether spot ETFs everyone was celebrating? They’re hemorrhaging money, with outflows hitting $335 million last week alone.
Turns out Wall Street’s love affair with crypto was more of a speed date.
Exchange balances tell the story no one wants to hear—ETH supply on centralized platforms has reached a 12-month high of 16.2 million coins. Translation: sellers are lining up.
Some analysts are now predicting ETH could crash to $1,200, while the more apocalyptic crowd points to a double-top pattern suggesting an eventual $174 price tag. Yes, $174. Let that sink in.
For perspective, remember when ETH touched $4,867 back in November 2021? Those were the days. The market’s brief excitement over Trump’s cryptocurrency reserve announcement quickly faded, returning to the prevailing bearish sentiment.
Now, with ETH trading 57% below that all-time high, investors can only wonder: is this just another bump in the crypto roller coaster, or are we headed for the basement?
