TLDR

Ethereum has fallen below important price levels ($3,200 and $2,200), with a drop of over 33% in just three weeks to around $1,891
U.S. spot ETH ETFs have seen money flowing out for three weeks straight, with Thursday’s outflows reaching $73 million
Despite price troubles, Ethereum remains the top blockchain in DeFi, holding $45 billion in locked value
The Ethereum team is preparing for the Pectra upgrade with a testnet called Hoodi launching in mid-April 2025
Price charts show ETH finding support at $1,760 but facing challenges at the $1,900-1,950 range

Ethereum’s price has taken a sharp downturn in recent weeks, creating a clear contrast with Bitcoin’s upward movement.

While Bitcoin has been climbing slightly alongside gold, Ethereum has been caught in a downward spiral that has alarmed many investors.

Ethereum
ETH Price

The trouble began after President Trump’s inauguration for his second term. Since then, Ethereum has broken through two major price floors at $3,200 and $2,200. In just three weeks, ETH has lost over a third of its value, trading at about $1,891 as of Friday morning, March 14.

This decline is happening during a time of broader market weakness. The S&P 500 and other major stock indexes have been falling as uncertainty grows around U.S. trade policies and tariffs. These conditions have pushed many investors to move their money into safer options like gold and stablecoins.

Data from Glassnode shows that long-term Ethereum investors are becoming increasingly worried. This concern is also visible in the money flowing out of U.S. spot Ether ETFs, which have now seen withdrawals for three consecutive weeks. On Thursday alone, these funds lost about $73 million in net outflows.

Oversold?

When looking at price charts, ETH appears to be oversold compared to Bitcoin. Ethereum has tried but failed to break above $4,000 for the past year and now faces a critical test of its support levels. To prevent falling further toward $1,500, ETH must hold its current price range.

The ETH/BTC trading pair is testing an important support level around 0.023. If this level holds firm, it could help bring back some positive sentiment to Ethereum trading. Technical indicators hint at a possible bounce if key levels can be maintained.

Recent trading shows that Ethereum found some stability above $1,760 and began a small recovery. The price managed to move above several resistance points including $1,820 and $1,850. Buyers briefly pushed the price above $1,920, crossing the 23.6% Fibonacci retracement level from the drop between $2,150 and $1,752.

However, selling pressure continues to be strong near $1,950. Ethereum is now trading below both $1,920 and its 100-hour moving average. A bearish trend line has formed on hourly charts with resistance at $1,900.

The next major hurdle for ETH sits near $1,950, which matches the 50% Fibonacci retracement level. If Ethereum can break above this price, the next targets would be $1,990 and possibly $2,050. Clearing these levels might open a path toward $2,120 or even $2,250.

Looking at potential downside risks, Ethereum has initial support around $1,845. The first major support level is at $1,800, with additional backing at $1,750. If these levels don’t hold, the price could fall toward $1,720 or even $1,650 in the near future.

Ethereum Fundamentals Still Strong

Despite its price struggles, Ethereum’s underlying technology remains strong. It continues to lead the decentralized finance (DeFi) space with around $45 billion in total locked value. The Ethereum ecosystem also supports a massive stablecoin market worth over $123 billion.

Competition from other blockchains like Solana is increasing. To stay ahead, Ethereum developers are working hard on the upcoming Pectra upgrade. Tim Beiko, a core developer with the Ethereum Foundation, announced that the third testnet, called Hoodi, will launch by mid-April 2025 to prepare for this important upgrade.

For Ethereum to turn its price trend around, it must overcome the resistance at $1,900 and $1,950. A clear move above these levels could start a proper recovery and help restore market faith in ETH’s future price direction.

The crypto market remains highly volatile, with Ethereum especially feeling pressure from both market forces and growing competition. Traders are watching key support and resistance levels closely as they try to gauge whether ETH can stage a recovery or if further declines lie ahead.

For now, the $1,800 price level represents a critical battleground for Ethereum bulls and bears. The outcome of this contest could determine ETH’s price direction in the coming weeks and affect sentiment across the broader cryptocurrency market.

The post Ethereum (ETH) Price: Will the Upcoming Pectra Upgrade Rescue ETH from Freefall? appeared first on CoinCentral.

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Filed under: News - @ March 14, 2025 11:08 am