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Ethereum (ETH) has revisited annual hollows after losing the key support of $ 2,000, recording its worst performance for years. Some analysts have planned another decrease of 15% if the trend continues, but suggested that ETH could see an end of the year.
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Ethereum hits a 17 -month hollow
Ethereum experienced a correction of 15% on Monday, going from $ 2,150 to $ 1,810. ETH’s performance followed Bitcoin (BTC) and the rest of the market declineWho saw the flagship crypto drop to $ 76,000 for the first time since the start of post-electoral escape.
While the retrace continued, the second largest cryptocurrency by market capitalization fell to its lowest level since November 2023, affecting the bar of $ 1,750 before recovering the support of $ 1,900.
Some market observers have stressed that Ethereum was in a decreased three -month trend, traced about 53% since its December peak. Trader Crypto Rand note Whether the king of Altcoins has 20 days to “become green” or “it will be the first time since 2018 that the ETH has experienced 4 x months of row in a row”.
That year, ETH spent seven consecutive months recorded two-digit losses, losing around 80% of its value from May to November. Coinglass data show that walking tends to be a favorable month for cryptocurrency, with an average yield of 20% since 2016.
In 2024, the cryptocurrency closed the month with 9.33% of earnings, following a high performance of 46% in February. However, the feeling of the market decreased after consecutive negative performance this year, with a decrease of 1.98% and 31.95% in January and February, respectively.
Cryptocurrency registers A loss of 15.12% of the update month (MTD) and could see its worst first first quarter since 2018 at current levels. Consequently, Ethereum must close this month above the $ 2,237 mark to prevent its second historical performance.
ETH falls to $ 1,600 to come?
Some market observers have stressed that the current cryptocurrency performance has reached FTX-Crash levels, with a leaning feeling towards a deeper correction. Ted Oreads cryptographic analyst note That Ethereum could see another correction of 15% now that the support of $ 2,000 has been lost.
According to the post, “there is a good chance that ETH withdraws the level from $ 1.6,000 to $ 1.8,000” as the “manipulation phase is underway”. The analyst suggested a potential power of three (PO3) on the graph of ETH, which divides the price cycle into three distinct phases: accumulation, manipulation and distribution.
THE accumulation The phase consists of consolidation near the recent summit after a high price performance. In the manipulation phase, the price of a token falls below the level of support of the accumulation phase and is negotiated in a beach below the lost area. Meanwhile, the distribution phase sees a strong price escape to gain momentum and encourage participants to enter the market.
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Ted too declared The current performance of this ETH “seems to be negotiated as the 2016-2017 cycle”. At the time, Ethereum consolidated for about a year and fell below the level of key support for the range for a few weeks before switching to new heights.
ETH “has been consolidating for a year now and has recently broken below a level of key support”, which suggests that the second half of 2025 could be optimistic for cryptocurrency if history is repeated.
When writing these lines, Ethereum is negotiated at $ 1,947, an increase of 4.47% of the daily time.
Star image of Unsplash.com, tradingView.com graphic
