NewsBTC

30 March 2025

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Ethereum Analyst Predicts $1,200-$1,300 Level as Key Support Zone

Ethereum is experiencing significant selling pressure, currently trading at $1,840, down from $3,400 earlier this year. This decline reflects broader market fears and uncertainty, with investors moving away from high-risk assets like cryptocurrencies.

Key points include:

• ETH has failed to reclaim the crucial $2,000 level, intensifying bearish sentiment.
• Technical indicators show ETH below the 200 moving average (MA) and exponential moving average (EMA), maintaining a downward trend.
• The next potential support zone is between $1,200 and $1,300, indicating a possible over 60% correction from recent highs.
• A successful recovery above $2,000 and $2,100 could signal a shift in market momentum.

The continued decline may impact the broader altcoin market and DeFi sectors reliant on Ethereum’s price strength, raising concerns about a prolonged bear phase.