Ethereum News: Ethereum Struggles to Stabilize, Needs Breakout Above $2,050 for Recovery

Ethereum, the second-largest cryptocurrency by market capitalization, is currently facing a challenging period. After a sustained decline, the digital asset is struggling to stabilize and needs a breakout above $2,050 to initiate a strong recovery rally. Here’s a closer look at the current situation and what investors need to know.

Ethereum (ETH) Needs $2,050 for a Comeback

Ethereum is currently trading at $1,913, with resistance at $2,050 and support at $1,870. Analyst Ali Martinez warns that falling below this support could lead to a deeper decline. A breakout beyond $2,050 is crucial for initiating a strong recovery rally. Ethereum has moved below $2,000, struggling to stabilize after a sustained decline. From its latest high, the cryptocurrency has shed more than 57% of its worth, stirring uncertainty among investors. The wider market is under pressure, affecting both digital assets and traditional equities.

Ether in Structural Decline, Year-End Price Target Slashed to $4K by Standard Chartered

Ether’s (ETH) structural decline is expected to continue, according to investment bank Standard Chartered. The bank slashed its 2025 year-end price target for the world’s second largest cryptocurrency from $10,000 to $4,000. At the time of publication, Ether was trading around $1,903. The report mentioned that ’Ether is at a crossroads’ and while it still dominates on several metrics, this dominance has been falling for some time. Layer 2 blockchains were meant to improve scalability on the Ethereum blockchain, but Standard Chartered estimates that Coinbase’s Base has reduced ether’s market cap by $50 billion, and expects this trend to continue.

17 Year Old Forex Trader Claims New $0.09 Token is The Next ETH

The crypto market often features stories of successful young traders. A 17-year-old Forex trader claims to have found the next ETH in a new $0.09 token, predicting it could outperform Ethereum’s price rally. Ethereum has seen significant price growth since its launch in 2015, reaching a peak value of $4,891.70 in 2021 despite market fluctuations.

Ethereum Launches New Testnet Hoodi for Pectra Upgrade

Ethereum developers have launched a new test network, Hoodi, to carry out the blockchain’s upcoming ’Pectra’ upgrade. The test network, Hoodi, follows faulty Pectra tests on Ethereum’s other testnets, Holesky and Sepolia. Pectra will go live on Hoodi on March 26, and if successful, the upgrade will proceed to Ethereum’s mainnet roughly 30 days later. Test networks like Hoodi aim to mimic the main Ethereum network, allowing developers to test code changes or major upgrades in a low-stakes environment before deploying them to the mainnet.