Ethereum Drops Below Critical Support Level, Potential Target at $1,250

Ethereum has dropped to its lowest level since November 2023, losing over 20% of its value in hours amid market volatility. Key points include:

Current trading price is around $2,090, marking a 30% decline since February 24.
Analysts warn that if ETH falls below $2,000, further corrections may occur, potentially targeting $1,250.
A breakdown below current support could confirm a bear market scenario.
Traders are monitoring for signs of stabilization or continued weakness in the coming days.
Reclaiming the $2,500 resistance level could indicate a shift towards bullish momentum.

Investor sentiment remains bearish, with caution prevailing as Ethereum tests critical demand levels.