Ethereum News: ETH Faces Serious Downward Pressure, Risk of Breaking $2,000 Threshold

In the volatile world of cryptocurrencies, Ethereum (ETH) is currently under severe pressure, with its price hovering dangerously close to the $2,000 mark. Let’s dive into the details of this market turmoil and explore the potential impact on ETH’s future.

Ethereum Price Warning: Near $2,000 Mark, Risk of Sell-offs Looms

Ethereum (ETH) is facing serious downward pressure, crashing 10.6% in the last 24 hours and sinking 32.4% over the past month. Currently trading at $2,119, ETH is dangerously close to the $2,000 psychological threshold. If this key support level is broken, it could trigger massive sell-offs and push prices even lower. Meanwhile, a viral Asia-inspired meme coin is gaining popularity, with analysts predicting a massive surge. Early buyers are rushing in to secure their positions amidst this new crypto frenzy.

ETH Price Breaks Below Key Support Level, What Next?

Ethereum native cryptocurrency ETH’s price has declined and retested its Q4 2024 support level. Weak demand revealed by on-chain data could lead to further capitulation. ETH previously crashed below this support at the start of February but recovered swiftly. The price appeared to respect the support level NEAR the $2,350 price zone but has since dropped below it, declining to the next support level at $2160. Analysts anticipate this support level to hold, but weak demand may pave the way for a break below support, especially considering that the RSI was not yet in oversold territory at the time of observation.

Ethereum Price Outlook for March 2025

Ethereum (ETH) struggled in February due to a market-wide downturn. As March approaches, investors are concerned about rising supply pressures which could affect price. Over the past 30 days, Ethereum’s circulating supply has expanded by 66,350 ETH tokens, worth approximately $138 million. This increased supply, without demand keeping pace, can put downward pressure on prices. However, there may be an opportunity for investors willing to consider a potential rebound.

Ethereum Foundation Introduces Silviculture Society

The Ethereum Foundation (EF) has introduced a new advisory group called the Silviculture Society in response to ongoing leadership challenges. This initiative comes during internal restructuring and criticism from the broader Ethereum community. The 15-member Silviculture Society aims to uphold Ethereum’s CORE principles, including privacy, security, decentralization, and open-source values. The formation follows a leadership change, with Aya Miyaguchi promoted to President after seven years as Executive Director.