Ethereum Hits New Low of $1,410 Amid Ongoing Market Downtrend
Ethereum has dropped to around $1,400, marking a low not seen since early 2023. This decline represents over a 65% drop from its 2024 highs, driven by ongoing selling pressure and macroeconomic uncertainty.
- Analyst Ted Pillows indicates that Ethereum is in a capitulation phase, suggesting a potential final drop of 5%–10% may occur.
- A Federal Reserve pivot could act as a catalyst for recovery, historically boosting risk assets during policy shifts.
- Ethereum recently fell 20% in hours, resulting in heightened market fear and diminished investor confidence.
- The broader market faces pressures from trade tensions, U.S. policy uncertainty, and recession fears.
- Ethereum's failure to maintain the $1,800 support level has led to increased bearish momentum.
Currently trading at $1,410, Ethereum's path appears downward due to a lack of defined support. A reclaim of the $1,800 level is essential for any potential recovery; otherwise, further declines may follow.
