Ethereum Price Slips Below $2K Again as Bearish Pressure Builds
The post Ethereum Price Slips Below $2K Again as Bearish Pressure Builds appeared on BitcoinEthereumNews.com.
As bearish patterns intensify, ethereum dips under $2,000 again, but whales and staking data offer mixed signals. Ethereum Price Struggles Below $2K as Analyst Eyes Return to $1,700 Support Ethereum (ETH) fell below $2,000 again on March 23, testing investor confidence at a critical level. The altcoin traded at $1,988 at press time, with a market cap of roughly $240 billion, according to CoinGecko. ETH/USD 12- Hour chart. Source: MadWhale/TradingView Technical analyst MadWhale identified $2,200 as a key resistance zone. That level aligns with the upper boundary of a descending channel—a pattern associated with bearish continuation. In a recent post, MadWhale warned that ETH could drop 13% if it fails to break above the channel, potentially revisiting the $1,700 support level last tested in early March. Price action shows lower highs and a rounded top forming near resistance, which points to fading buyer strength. Trading volume during recent gains has also remained weak, while sell-offs have attracted more activity. Despite this, the Moving Average Convergence Divergence (MACD) indicator shows that bearish momentum might be slowing. A bullish crossover could emerge, leaving room for a short-term rebound. Investors Stake $220M in ETH as Volume Slumps and Support Weakens Ethereum’s price remains under pressure, but long-term holders appear undeterred. According to Beaconcha.in, investors deposited 110,000 ETH—worth over $220 million—into Ethereum 2.0 staking contracts between March 20 and March 23. Ethereum 2.0 Beacon Chain Staking Deposits as of March 23, 2025 | Source: Beaconcha.in The total staked supply rose from 33.72 million ETH to 33.83 million ETH within 48 hours. This removed a portion of ETH from circulation, easing short-term sell pressure and helping stabilize price around the $1,950 level. Source: Patron/X Analyst Patron viewed the uptick as a rotation into yield-generating assets amid growing market caution. Rather than indicating disinterest, the move…
Filed under: News - @ March 23, 2025 9:16 am