Ethereum (ETH) fell below $ 2,000 on March 10, and has difficulty in regaining this psychological level. ETH investors, who have seen such a low price for the first time since December 2023, carries an average of 7 %unrelated damage.
Ethereum price continues my decline tendency
Large crypto currencies such as Bitcoin (BTC) and XRP show slight recovery in the last 24 hours, while the same does not apply to Ethereum. Altcoin declined to $ 1,752 on March 11, reaching the lowest level of recent years. Technical analysis and on-achain data indicate that the price may drop by 15 %further in the coming weeks.
The fact that Ethereum went below $ 2,000 was an important development in terms of over -chain indicators. According to the data analysis platform Glassnode, ETH’s realized price (Realized Price) is calculated as $ 2,054. Ethereum fell to below this level for the first time since February 2023.
The realized price represents the average price to which all circulating ETHs are most recently transported. The fact that ETH’s current price is below this level shows that most of the investors are at damage. In addition, the market value / realized value (MVRV) ratio decreased to 0.93. This reveals that all Ethereum owners have damaged 7 %on average.
Participation in Ethereum network is decreasing
The total locked value in the Ethereum ecosystem decreased to 45.6 billion dollars as of March 12th to the lowest level of the last six months. This means a decrease of 41 %compared to the $ 77 billion summit seen on December 17, 2024.
In addition, the total fees paid to make transactions in the Ethereum network decreased to 46.28 million dollars and saw the lowest level since July 2020. This indicates that the use of networks is weakened and the interest of investor has decreased.
Critical Zone for Ethereum between 1,600-1,900 dollars
According to Glassnode’s over-chain data, an accumulation of 600,000-700,000 ETH was realized at $ 1,900 with the Ethereum fell below $ 1,880. Thus, it shows that the price can find support at $ 1,900. If ETH is consolidated at these levels, the next resistance point stands out as $ 2,200.
On the other hand, the anonymous analyst Ninja says Ethereum’s base price is between $ 1,600 and $ 1,900. According to the analyst, this price range can be an attractive region for corporate investors. In the rise scenario, the target price of ETH is foreseen as $ 2,500.
The way Ethereum will follow the direction in the coming period will be determined by market dynamics and reaction of investors at these levels.
To be aware of last -minute developments Twitter ‘ in, Facebook ‘ Instagram follow and follow Telegram And Youtube Join our channel!
