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Ethereum experienced a significant drop, plunging over 20% in just one day and hitting its lowest point since last August.
ETH price found strong support at $2130 and I don’t expect further downfall beyond this level unless broader market conditions deteriorate.
One of the key technical developments was Ethereum breaking the crucial $2800 support zone, which is a bearish signal for the continuation of the uptrend.
However, a quick recovery above this level could reignite bullish momentum and bring buyers back into the market. W
atching how ETH reacts to this resistance will be crucial in the coming days.
The main catalyst for this sell-off was Trump’s decision to impose tariffs on Canada, Mexico, and China, which triggered a broader risk-off sentiment in global markets.
The crypto space, being highly sensitive to macroeconomic events, saw a sharp reaction, with Ethereum and other major altcoins suffering deep corrections.
Despite the current bearish outlook, there is one major reason why Ethereum is likely to recover quickly — the upcoming Pectra upgrade, set to take place next month.
Historically, ETH has seen strong rallies leading up to major network upgrades, and I expect a similar pattern to unfold this time.
If the market stabilizes and sentiment shifts, Ethereum could reclaim lost ground and resume its long-term bullish trajectory.
For now, the key levels to watch are $2130 as support and $2800 as resistance.
A break above $2800 could signal a strong reversal, while failure to hold $2130 might open the door for deeper corrections
Please don’t forget to boost this idea and leave your comments below.
Ethereum experienced a significant drop, plunging over 20% in just one day and hitting its lowest point since last August.
ETH price found strong support at $2130 and I don’t expect further downfall beyond this level unless broader market conditions deteriorate.
One of the key technical developments was Ethereum breaking the crucial $2800 support zone, which is a bearish signal for the continuation of the uptrend.
However, a quick recovery above this level could reignite bullish momentum and bring buyers back into the market. W
atching how ETH reacts to this resistance will be crucial in the coming days.
The main catalyst for this sell-off was Trump’s decision to impose tariffs on Canada, Mexico, and China, which triggered a broader risk-off sentiment in global markets.
The crypto space, being highly sensitive to macroeconomic events, saw a sharp reaction, with Ethereum and other major altcoins suffering deep corrections.
Despite the current bearish outlook, there is one major reason why Ethereum is likely to recover quickly — the upcoming Pectra upgrade, set to take place next month.
Historically, ETH has seen strong rallies leading up to major network upgrades, and I expect a similar pattern to unfold this time.
If the market stabilizes and sentiment shifts, Ethereum could reclaim lost ground and resume its long-term bullish trajectory.
For now, the key levels to watch are $2130 as support and $2800 as resistance.
A break above $2800 could signal a strong reversal, while failure to hold $2130 might open the door for deeper corrections
Please don’t forget to boost this idea and leave your comments below.
Note
Ethereum closed a weekly candle above $2,600, which isn't that bad. Currently, ETH price has more or less stabilized, and hopefully, this week, it closes above $3000, confirming further bullish momentum.
As for the moment, the main resistance lies at $2800–$3000, and ETH needs to break through it as soon as possible to resume its uptrend.
A successful breakout with strong volume could pave the way for a rally toward $3200–$3500 in the coming weeks.
Otherwise, if buyers fail to sustain momentum and ETH faces rejection at this resistance zone, we might see another drop to the $2100 level, where the next strong support is located.
A dip below this key level could trigger further bearish pressure, potentially leading to a retest of $1900–$2000 before any recovery attempt.
Overall, Ethereum’s price action remains at a critical juncture.
Note
Ethereum's price is struggling to break through the $2800 resistance level, facing repeated rejections. Recently, we witnessed yet another attempt to push above $2800, but the price failed to sustain momentum, leading to a pullback.
Currently, ETH is holding above the crucial support level at $2500, which remains a key zone for bullish continuation.
If the price secures another weekly close above this area, it could indicate growing strength and a potential shift in momentum toward the upside.
The primary target remains the same $2800-$3000 zone.
A decisive breakout above this resistance could trigger a fresh wave of buying pressure, potentially fueling a rally toward $4000.
Note
Ethereum price once again tested crucial support line at $2,100 following Bitcoin crash below $79K. Currently, ETH is trading above the $2,200 level but looks very weak and could continue its decline.
Ethereum lost over 30% in February, and hopes are now pinned on March for a potential recovery.
However, the current price action suggests that bulls are struggling to regain control.
If ETH has any intention of reversing the trend and avoiding a drop below $2,000, it must reclaim the $2,500 level as soon as possible. A failure to break above these levels could trigger another wave of selling pressure, potentially pushing ETH below $2,000.
For now, all eyes are on whether ETH can attract enough buying interest to reclaim lost ground—or if bears will continue to dominate the market.
Note
ETH price rose above 2500 on an announcement of crypto reserve but currently retraced below 2400 again.Overall this news might push ETH price above 2800 level and only after that can we speak about real recovery and the beginning of the next bull run.
Until then we have to wait how the price will behave.
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Ethereum price broke long-term support at $2,150 and now looks more bearish than bullish. There is still some hope that ETH will manage to reclaim the $2,150 price level and recover from this steep decline, but as time passes, this hope diminishes.
At the moment, the $2,150 level will act as resistance, meaning that even if ETH attempts a rebound to this zone, there’s no guarantee it will successfully break through.
A continued decline seems likely, with Ethereum potentially dropping to the $1,500 level if selling pressure persists.
The broader market sentiment, macroeconomic conditions, and liquidity levels will play a crucial role in determining whether ETH stabilizes or extends its downtrend.
Additionally, geopolitical and economic factors add further uncertainty.
On April 2, former U.S. President Donald Trump might resume the trade war and implement tariffs against multiple countries.
The last time he introduced such measures, ETH plummeted by a staggering 40%, highlighting the potential impact of macroeconomic shifts on crypto markets.
Will history repeat itself, or will the market react differently this time? Only time will tell.
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✅ FYBIT exchange. I recommend. No KYC, available in all countries. fybit.com/Account/Register/OMNP5
🔥 My Twitter - x.com/Real_CryptoRoy
▶️ Telegram - t.me/Real_CryptoRoy
🔥 My Twitter - x.com/Real_CryptoRoy
▶️ Telegram - t.me/Real_CryptoRoy
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.