ETH price plummets below $2,000, will it continue to lose money? Here’s the analysis in March 2025!

Jakarta, Pintu News – Ethereum price failed to break the $2,120 resistance and is now on the decline. Currently, Ethereum is in a consolidation phase and faces challenges near the $2,000 resistance level.

Ethereum Price Drop Continues

Ethereum (ETH) price suffered a fresh drop after failing to break the $2,120 resistance, similar to Bitcoin . Ethereum price dropped below the $2,000 support and entered the bearish zone. Sellers gained strength to push the price below the $1,880 support. Finally, buyers appeared in the $1,750 zone, with the lowest price recorded at $1,753 and now the price is trying to recover.

The recovery saw the price rise above the $1,800 and $1,820 resistance levels. Ethereum price also managed to cross the 23.6% Fibonacci retracement level of the decline from the $2,152 high to the $1,753 low. However, Ethereum price is still trading below $2,000 and the 100-hour simple moving average.

Also Read: Bitcoin and Stock Market Plummet, Arthur Hayes Asks Investors to Be Patient: Why is Crypto Red?

Potential Barriers and Remedies

On the upside, Ethereum price seems to be facing resistance near the $1,880 level. There is also a short-term descending channel forming with resistance at $1,880 on the ETH/USD hourly chart. The next key resistance is near the $1,950 level.

The 50% Fibonacci retracement level of the decline from the $2,152 high to the $1,753 low is also near the $1,950 level. The first major resistance is near the $2,000 level. If the price manages to cross the $2,000 resistance, it could push the price towards the $2,120 resistance.

Possible Further Decline

If Ethereum fails to break the $1,880 resistance, the price could drop again. Initial support on the downside is near the $1,800 level. The first major support lies in the $1,750 zone.

If the price moves below the $1,750 support, it could push the price towards the $1,680 support. Further losses could send the price towards the $1,620 support level in the short term. The next key support is at $1,550.

Conclusion

Technical indicators show that the hourly MACD for ETH/USD is losing momentum in the bearish zone, while the hourly RSI for ETH/USD is now below the 50 zone. With key support at $1,750 and key resistance at $1,880, market participants should pay attention to these levels to determine the next direction of the Ethereum price.

Also Read: Drastic 19% Drop in Solana Futures – Here’s Solana’s Technical Outlook in March 2025

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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 andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Ethereum Price Turns Bearish, $1750 Holds The Key. Accessed on March 12, 2025
• Featured Image: Generated by AI