On March 4, the native token of Ethereum, Ether (ETH), fell to a new annual hollow of $ 1,996, marking the lowest value of the Altcoin since November 2023. In this 24 -hour period, around 100 million dollars in Ethereum positions were liquidated, with open interests ETH (OI) down 10.31% in all exchanges.
Ethereum 1 day. Source: Cointelegraph / TradingView
Is the price of the ether at a generational entry or a lost cause?
The second largest cryptocurrency is mixed opinions in the cryptographic industry. The upgrade of Ethereum Pectra was deployed on the Sepolia testnet on March 5, and Gabriel Halm, research analyst at Intotheblock, thought that this could potentially facilitate the recent ETH sales pressure. Earlier this week, said Halm,
“Although the next Pecctra d’Ethereum upgrade will not necessarily trigger an instant price bump, it marks a significant step in the current improvements of the Ethereum ecosystem.”
Likewise, Louie, Crypto analyst, achieved a similarity between the current and Bitcoin, current situation of Ethereum, in 2023. The analyst involved that the two active people display similar price structures, the feeling of the market and the catalysts, which could possibly allow ETH to “rhyme” the optimistic BTC rupture from 2023.
Ethereum vs bitcoin comparison brart. Source: x.com
On the contrary, Matthew Hyland, a market analyst, said that Ethereum was perhaps already on a lower market. With Ethereum objectively in a downward trend of 357 days, Hyland thought that no correlation existed between BTC and ETH on the current market. The analyst said,
“Until a year ago, everything was in a bull together and a bear together, now it’s mixed.”
In addition, the analyst has mentioned that the low price of ETH will potentially describe the start of the following cycle.
Meanwhile, the double top model confirmed on weekly and monthly graphics increases the probability of a deeper correction for Altcoin.
Nebraskanguer, a commentator from Crypto, told his 379,900 subscribers who, depending on the model, the measured distribution objective is about $ 1,200, 42% more than the current ETH price.
Related: Why is the cryptography market down today?
Only 26% of Ethereum addresses are profitable
Between December 1, 2024 and March 4, 2025, the price of Ethereum decreased by 50% in just 78 days. Although these radical corrections are common with low capitalization cryptographic assets, the ETH lost more than $ 250 billion in market capitalization during this period.
This net and bearish turnaround has also affected investors, intotheblock data suggest that only 26% of all addresses holding 36.92 million ETH are in profit. A narcotic 70% of addresses are “out of money”, with only 4.46% of addresses on a school scale.
Active addresses by profitability. Source: intotheblock
From a technical point of view also, the weekly fence of Ethereum took place under an upward trend of 980 days, dating from previous cycle hollows in June 2022. A break below the ascending trend line indicates a long -term trend reversal, which could be a warning sign for bulls.
However, Altcoin has recovered strongly in the last 24 hours, jumping 12% over recent stockings at $ 1,996 to more than $ 2,242.
Ethereum 1 week. Source: Cointelegraph / TradingView
The relative force index (RSI) also fell on multi -year stockings, which also confirms the downward nature of the long -term market structure of Ethereum. However, this could potentially involve weakness of the sales pressure also in the short term, resulting in emergency rallies.
Related: Bitcoin weakens around $ 80,000 while the force of the US dollar bounces 12 weeks
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
