NewsBTC
Mar 5, 2025
13 0

Ethereum Falls Below $2,000 for First Time in 15 Months

1 min

Ethereum (ETH) fell below $2,000 for the first time in over a year, hitting a low of $1,993. Analysts suggest it could face a 40% correction if it doesn't reclaim key levels.

Market Overview

  • ETH dropped 31.95% in February, marking its first negative close since 2018.
  • Recovery attempts occurred after President Trump's announcement of a "Crypto Strategic Reserve" including ETH.
  • Analyst Ali Martinez indicated ETH could drop to $1,250 unless it regains critical price points.
  • Resistance is at $2,400, where many investors hold significant positions; a breakout could lead to a rally towards $3,000.

Historical Context

  • ETH's performance mirrors previous bear markets in 2018 and 2022, with significant declines observed.
  • Year-to-date, ETH has declined 36.4%.
  • Traders note potential for recovery later in the year based on historical patterns.

As of now, ETH has rebounded nearly 7%, trading at $2,135.

Ethereum, ETH, ETHUSDT