Ethereum Hits New Low, Risks Falling Below $2,000
Key Takeaways
Ethereum (ETH) has experienced a significant price drop in the last 24 hours, reaching a new yearly low. Despite purchases by large investors (so-called “whales”), selling pressure remains high. Technical indicators suggest a possible further decline, potentially dropping below the $2,000 mark.
Ethereum Reaches New Yearly Low
ETH fell to $2,073 in the last 24 hours before slightly recovering. However, the downward trend persists. Currently, the price stands at $2,143, reflecting a daily decline of 8.99%. On a weekly and monthly basis, ETH has also seen significant losses of 23.18% and 31.34%, respectively.
High Selling Pressure Despite Whale Purchases
Although large investors have purchased around 110,000 ETH in the past 72 hours, this has not been enough to stop the downward trend. The market remains dominated by sellers. One indicator of this is the positive net inflow of Ethereum to exchanges over the past six days. This means more ETH has been deposited onto trading platforms than withdrawn—an indication of increased selling pressure.
Additionally, the taker buy-sell ratio, which has been below 1 for the past four days, shows that more sell orders than buy orders have been executed. These factors contribute to the negative market sentiment.
Is a Further Price Drop Imminent?
Technical indicators suggest that the downtrend could continue. The MACD (Moving Average Convergence Divergence) has formed a bearish crossover, indicating increased downward momentum. Furthermore, a so-called “death cross” could emerge—a chart pattern that has historically led to declines of over 20%.
If this pattern repeats, ETH could drop to $1,714. However, if buyers return to the market, the price could recover and reclaim the $2,340 level.
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Our Assessment
Ethereum is under significant selling pressure, and current market dynamics suggest a further decline is possible. Technical indicators and market participant behavior indicate that a drop below $2,000 is likely. While short-term recoveries cannot be ruled out, as long as selling pressure persists, the risk of further losses remains high.
| Symbol | ETH |
| Coin type | Alt Coin |
| Transaction Speed | Medium |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | $1,810.22 |
| 24h % | -1.20 % |
| 7d % | -13.50 % |
| 30d % | -17.07 % |
| 60d % | -43.77 % |
| 1y % | -49.88 % |
| Market Cap | $218,647,861,700.00 |
| Official Links | Website | Source Code |
| Socials | Reddit | X |
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