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- Ethereum’s price sank beneath $2,000, losing more than 20% over 30 days, while trading volume indicates market activity.
- Macro strategist Mike McGlone warns that ETH’s price weakness may pressure broader financial indices, including stocks and commodities.
Ethereum, the second-largest digital coin by market value, has seen its price plunge more than 20% over the past month. It is now trading beneath the once-crucial support level of $2,000, putting traders on edge.
Macro strategist Mike McGlone has warned that further declines in Ethereum might ripple across broader financial markets, possibly affecting investor sentiment beyond the crypto space.
Over the last 30 days, Ethereum lost a substantial portion of its value, dropping from above $2,200 to its current level of around $1,877.46. Just a few weeks ago, it momentarily touched $2,550.37, but this brief spike did not prevent subsequent price erosion. Many traders initially expected Ethereum to hold at $1,900, yet that point failed to provide a floor.
ETH slide to sub-$2,000 has revived concerns about how low it could go
In recent days, Ethereum’s trading volume has surged. This indicates that buyers and sellers remain active, even though the price trend is downward. Some experts hold onto optimism, suggesting the coin might recover if investor confidence strengthens.
However, McGlone has asked whether Ethereum could fall to $1,000. He underscores a possibility that continued pressure on the crypto market could weigh on traditional financial assets too.
While Ethereum battles its weakening price, the S&P 500 and the Nasdaq 100 have also experienced declines this month, dropping 4.48% and 5.59% respectively. If Ethereum’s slump continues, it might spill over into other top cryptocurrencies, amplifying investor anxiety. For ETHNews traders, that risk underlines the close link between crypto assets and stocks in the current trading climate.
Despite the gloom, there is still a chance for a short-term rally. Some traders argue that a drop to $1,500 might spark renewed buying interest. If Ethereum can regain momentum at such a level, it may attempt another push above $2,000.
Still, that outcome depends on whether overall market conditions stabilize. If buyers hesitate and external factors keep driving prices down, a deeper dive could become reality, and Ethereum might truly test the dreaded $1,000 support.
As of March 28, 2025, the exact current price of Ethereum (ETH) is $1,846.25 USDT, showing a daily loss of −2.67%. The trading range today is between $1,833.50 (low) and $1,913.60 (high). This marks another day of continued downside pressure, as ETH remains below key resistance levels and struggles to regain momentum after a steep multi-week correction.
Over the past 7 days, ETH has dropped −6.08%, and in the last month, it’s down −20.98%. On a year-to-date basis, ETH has lost −44.69%, and it’s down −48.15% over the last year, confirming sustained bearish momentum across all major timeframes. Volume today is around 256,540 ETH, which shows consistent market activity despite the declining trend.
ETH is now sitting just above a major support zone at $1,800–$1,830. A breakdown below this range could lead to a swift move toward $1,700 or lower, especially if broader market sentiment remains weak.
On the upside, ETH would need to reclaim $1,950–$2,000 to neutralize current bearish pressure. Technical indicators remain negative, with the MACD continuing its downward trajectory and RSI sitting in the low-40s — not oversold yet, but firmly bearish.
