Ethereum Falls to $1,997 Today: Could ETH Still Climb to $62,000?

Jakarta, Pintu News – Ethereum (ETH) volatility has increased significantly since the beginning of the month, reflecting a market that is still caught between recovery efforts and continued selling pressure. After rallying throughout the first half of the month, the ETH price faced strong resistance around $2,372, which then triggered a sharp correction that erased some of the previous gains.

Since then, the price movement went into a narrow consolidation phase around the $2,000 level, an area that the bullish camp has successfully defended many times. While this support suggests that there is still demand below, the absence of a strong bounce also confirms that buyers are still cautious.

At the same time, long positions continue to gradually increase, indicating increasing bullish expectations in the market. However, since the price is still moving sideways, this accumulation of positions increases the risk of crowded trades instead of confirming a solid reversal.

As such, Ethereum is now at a crucial point, where the next breakout-both upward and downward-will likely determine the direction of the short-term trend. So, what is Ethereum’s current price movement?

Ethereum Price Drops 0.11% in 24 Hours

On March 30, 2026, Ethereum was trading at around $1,997, or approximately IDR 34,048,733, marking a modest 0.11% decline over the past 24 hours. During that period, ETH moved within a daily range of IDR 33,163,196 to IDR 34,390,809.

At the time of writing, Ethereum’s market capitalization stood at roughly IDR 4,058 trillion, while its 24-hour trading volume rose 17% to IDR 181.01 trillion.

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Ethereum Price Analysis: Is ETH Building Strength or Trapping the Market?

On March 29, Ethereum briefly traded in a narrow range around the $2,000 level after experiencing a sharp rejection from the $2,372 area earlier this month. Structurally, the movement formed so far still reflects the previous downtrend, followed by a sideways consolidation phase in the range of $1,900 to $2,200.

Although this range gives the impression of stabilizing for the time being, the price movement has yet to show a strong bullish continuation. ETH has also not been able to form a higher high, which means that a confirmed trend reversal is still not really in sight.

When it comes to market positioning, there has been a noticeable change. The aggregate long/short ratio has risen to around 2.4, signaling that more and more traders are starting to place bets on price increases. However, this increase in long positions has not been accompanied by commensurate price gains. Ethereum remains sideways despite increasing bullish expectations, indicating a potential imbalance in the market.

Divergences like this generally point to two possibilities: either large market participants are absorbing buying pressure, or the market is forming a liquidity-driven move.

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When long positions increase but prices remain restrained, this often reflects crowded trades rather than a truly confirmed bullish trend. Such a situation can increase the risk of a long squeeze, which is when a sudden drop in price forces leveraged positions to close. Therefore, the current market structure is fragile, as too much optimism without price confirmation can quickly reverse.

Conclusion: Can ETH Price Reach $62,000?

Ethereum price was stuck around $2,000 on March 29, but the dynamics behind the scenes are starting to show interesting developments. More and more traders are opening long positions, while the price hasn’t moved significantly. This usually indicates that pressure is building, and its direction does not always match the expectations of the majority of the market.

If the price drops through the $1,950-$1,900 area, a long squeeze could potentially occur and push ETH down to around $1,850 or even $1,750. Conversely, if Ethereum is able to break the $2,200 level and stay above it, the price has a chance to rise towards $2,400 in the short term.

In a long-term perspective, Ethereum is still considered to have strong upward potential. In line with popular analyst Tom Lee’s prediction, ETH is even said to have a chance to reach $62,000.

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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. Crypto trading activities are subject to 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.

Reference:

• Coinpedia. Ethereum (ETH) Price Holds $2K Support-Analyst Predicts Shocking $62,000 Target. Accessed on March 30, 2026