Ethereum Plunges 9% Today (March 11, 2025) – Massive Sell-Off Leaves 50% of Holders in the Red!

Updated

March 11, 2025

Jakarta, Pintu News – The price of Ethereum has dropped another 13% in the past week. On Tuesday morning (11/3/25) in the Asian trading session, the largest altcoin slumped to $1,862, marking its lowest level since December 2023.

With the bearish sentiment continuing to strengthen, ETH is at risk of slipping back below the critical support level of $2,000 in the near future.

Ethereum Price Drops 9.08% in 24 Hours

On March 11, 2025, Ethereum (ETH) was trading at approximately $1,862 (30,678,732 IDR), marking a sharp 9.08% decline in the past 24 hours. During this period, ETH peaked at 35,204,264 IDR before plummeting toward its lowest level of 29,271,610 IDR.

At the time of writing, data from CoinMarketCap shows that Ethereum’s market capitalization stands at around $224.83 billion, with daily trading volume rising 97% to $38.65 billion in the last 24 hours.

ETH Sell-off Increases, 50% of Holders Are Now Making Losses

Reporting from BeInCrypto (10/3/25), analysis of the ETH/USD one-day chart shows that the price of Ethereum (ETH) is currently trading well below the Ichimoku Cloud, and has been in this trend since January 25.

As of March 10, Leading Span A (green) and Leading Span B (red) formed dynamic resistance above the ETH price, at $2,346 and $2,742 respectively.

The Ichimoku Cloud serves to track the momentum of market trends and identify potential support and resistance levels. If the price moves above the cloud, the market is in an uptrend (bullish).

Conversely, if the price is below the cloud, the market is in a downtrend (bearish), where the cloud acts as a dynamic resistance zone. This increases the likelihood of further ETH price drops if the coin remains trading below the cloud.

In addition, the drop in ETH price has left many holders at a loss. Based on Glassnode’s data, the number of ETH wallet addresses that have an average purchase price below the current price has shrunk to its lowest point this year, just 50%.

This means that only 50% of ETH holders are still in a profitable position, much less than the 82% at the beginning of the year. This trend has the potential to increase further sell-offs, as more traders try to sell their holdings to minimize losses.

If selling pressure continues to mount, ETH prices could fall further, reinforcing the bearish momentum and triggering more stop-loss based sell-offs.

Next Moves for Ethereum: Break to $1,924 or Surge to $2,500?

ETH price support at the $2,000 level may not hold if selling pressure continues to build. If this happens, Ethereum is at risk of further declines in the next few days.

Based on Fibonacci Retracement analysis, if demand for ETH weakens further, the price could potentially drop to $1,924.

However, if market sentiment turns positive, this bearish scenario could be invalidated. If ETH attracts renewed buying interest, the price could be pushed up to $2,224.

If this level manages to turn into strong support, Ethereum has the potential to shoot higher towards the crucial zone of $2,500.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

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