Ethereum (ETH) Under Bearish Pressure, Set to Drop to $1,000 as Altcoin Season Hopes Take a Blow
The post Ethereum (ETH) Under Bearish Pressure, Set to Drop to $1,000 as Altcoin Season Hopes Take a Blow appeared on BitcoinEthereumNews.com.
The recent crypto market performance has shaken investor confidence, as the Trump trade war produced a significant fall. One of the poorest performers, Ethereum (ETH), dropped 17% in the past day, raising fresh questions regarding the immediate future of the altcoin season. Indicators show a possible drop to $1000, a level not seen since 2023. Ethereum Price Outlook Turns Grim Ethereum has now shed over 60% of its value from the December 2024 high of $4,098. The formation of a clear triple-top pattern at that level was the first warning sign — and it’s played out as expected. ETH has broken below the neckline at $2,140, confirming the bearish structure, and more losses are in sight. Technically, Ethereum’s fall below the 61.8% Fibonacci retrace at $1,935—sometimes known as the golden ratio—has removed a significant support zone. Now trading under the 50-week and 100-week EMAs, momentum signals such as the RSI and Stochastic Oscillator are still pointing down. Tracking trend strength, the ADX (Average Directional Index) has climbed beyond 30, supporting the impression that ETH’s decline is not only intact but also accelerating. Trading at $1483, the token is testing a critical support level. Should $1,400 give way, $1,000 provides the next psychological aid. A break below that would rock the cryptocurrency scene generally. Ethereum Price Chart (24-Hour), Apr. 7, 2025 | Source: CoinGecko Sentiment across crypto is worsening. The Fear and Greed Index is stuck at 27, and the Altcoin Season Index is down to just 16. Ethereum spot ETFs saw outflows of nearly $50 million last week, highlighting a mass exodus of capital. This shows that investors are no longer just risk-averse; they’re outright scared. Yet amid this bearish mood, one $0.20 token is emerging as a cheaper, high-upside alternative: Rexas Finance (RXS), a rising star that could rewrite…
Filed under: News - @ April 17, 2025 4:28 pm