Ethereum Price Drops 20% as Market Experts Warn of $1000 Risk!

Ethereum Price Drops 20% as Market Experts Warn of $1000 Risk!

The post Ethereum Price Drops 20% as Market Experts Warn of $1000 Risk! appeared first on Coinpedia Fintech News

Ethereum has taken a sharp hit over the past month, losing nearly 20.4% of its value. In just the last seven days, it has slipped another 2%, bringing its price down to $1,877.46. With this steady decline, concerns are growing – how low could Ethereum go?

Market strategist Mike McGlone has sparked debate by asking a bold question: Could Ethereum crash to $1,000? Some believe it’s possible, while others argue the worst may be over.

What’s really going on, and what could happen next? Let’s take a closer look.

Ethereum’s 30-Day Price Decline

At the start of the month, Ethereum was trading around $2,216.71. Since then, it has dropped by 15.48%. On March 2, it briefly reached $2,550.37, but now, it is trading nearly 26.59% below that peak.

Many traders expected Ethereum to find support at $1,900, but that level did not hold. With prices now at $1,877.46, investors are closely watching where Ethereum will go next.

Ethereum and the Stock Market Connection

McGlone has pointed out that Ethereum’s performance is linked to the broader financial market. If Ethereum continues to decline, it could impact other major markets, including the S&P 500.

The S&P 500 index has already dropped by 4.48% this month, while the Nasdaq 100 has fallen by nearly 5.59%. If Ethereum’s downward trend continues, other top cryptocurrencies could also see further losses.

Major Altcoins Also in Decline

Ethereum is not the only cryptocurrency struggling. Many top altcoins have also faced losses over the last 30 days:

• XRP is down 4.5%
• BNB has dropped 1.65%
• Solana has fallen 9.4%
• Dogecoin has slipped 16.7%
• Chainlink is down 10.6%
• Avalanche has lost 12.8%

Among them, Ethereum has seen the steepest decline, raising concerns about the overall crypto market.

McGlone has questioned whether Ethereum could fall to $1,000. Right now, Ethereum is trading about 6.52% below the important $2,000 support level. Many analysts believe that if Ethereum fails to move back above $2,000, a drop to $1,000 could become a real possibility.

• Also Read :
•   Ethereum Over Bitcoin at BlackRock: Could a $3000 Rally Be Next?
•   ,

Trading Volume Rises Despite Price Drop

Even with the price decline, Ethereum’s trading volume has jumped by 36.92%. The 24-hour trading volume now stands at $14.48 billion and even reached $19.03 billion at one point. This shows that investor interest in Ethereum remains strong despite the falling prices.

What’s Next for Ethereum?

Experts believe that Ethereum is currently in a profit-taking phase. Once this phase ends, they expect the market to recover and see stronger upward momentum.

Ethereum’s long-term potential remains solid, and some analysts believe it could benefit from growing adoption, including the recent launch of a bank-issued stablecoin. While the short-term outlook is uncertain, long-term investors remain optimistic about Ethereum’s future.

Markets rise, markets fall, but Ethereum always finds a way to stay at the center of the conversation.

Never Miss a Beat in the Crypto World!

Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

Subscribe to News