Ethereum Plummets 30% in Two Weeks, Analysts Predict $1,200 Support

Ethereum (ETH) has decreased by 30% over the last two weeks, influenced by global economic instability and tariff conflicts. Currently, ETH is trading in the mid-$1,000 range after an 8.3% drop in the past 24 hours.

Key Points

Analyst Ali Martinez suggests ETH might test support at $1,200.
Historically, ETH traded around $4,000 in December 2024 before falling through multiple support levels.
Analyst Carl Moon notes ETH is below its realized price of $2,000, recalling a similar situation in March 2020 when ETH fell significantly.
Despite current bearish sentiment, some analysts hint at a potential bullish reversal, referencing past recovery trends.
The Ethereum Fear & Greed Index indicates extreme fear among investors, currently at 20.
Market Value to Realized Value (MVRV) Z-score suggests ETH may be undervalued; prior instances have led to significant rallies.
Rising ETH exchange reserves could signal potential sell pressure from holders.

As of now, ETH is priced at $1,457, reflecting ongoing volatility in the market.