On March 4, Ether Lee’s indigenous token ether (ETH) has fallen to $ 1,996, the lowest value of $ 1,996, marking the lowest value of Altcoin since November 2023. For 24 hours, about $ 100 million in Etherrium’s position has been cleared, and OI (Open Fut) has decreased by 10.31% in all exchange.
Ether Leeum Day 1 Chart. Source: COINTELEGRAPH/TradingView
Is the ether price entry or a lost cause?
The second largest cryptocurrency is to present a mixed opinion in the encryption industry. Ether Lee’s PECTRA upgrade was assigned to Sepolia Testnet on March 5 and I thought that Gabriel Halm, an analyst at INTOTHEBLOCK, could alleviate the recent sales pressure of ETH. HALM is the beginning of this week
“Ether Leeum’s upgrade of the upgrade of the upgrades cannot necessarily cause immediate price conflict, but it shows important development in the continuous improvement of Ether Leeum ecosystem.”
Similarly, Louie, an encryption analyst, attracted the similarity between Ether Lee’s current weakness and Bitcoin in 2023. In both assets, both assets showed similar price structures, market emotions and catalysts, suggesting that ETH could “rhyme” BTC’s optimistic brake out since 2023.
Ether Leeum vs. bitcoin comparison chart. Source: x.com
On the contrary, market analyst Matthew Hyland said Ether Lee is already in the bear market. Hyland thought it was not correlated between BTC and ETH in the current market, with Ethereum objectively falling in the 357 -day decline. Analyst
“All things were together in the bull until a year ago, the bear was together and now mixed.”
The analysts also mentioned that ETH’s price floor will potentially explain the beginning of the next cycle.
On the other hand, the double pattern identified on the weekly and monthly charts increases the deeper correction of Altcoin.
NEBRASKANGOONER, an encryption commentator, said that 379,900 followers have a failure target of about $ 1,200 and less than 42% of ETH’s current price.
Related: Why is the encryption market apart today?
Only 26%of Ether Leeum address is profitable
The price of Etherrium fell 50% in 78 days between December 1, 2024 and March 4, 2025. These rapid modifications are common in low -decreased encryption assets, but ETH has lost more than $ 250 billion in market cap during that period.
This sharp and weak processing time also affected investors, and Intotheblock’s data suggests that only 26%of all addresses with 36.92 million ETHs benefited. 70%of the address is “out of money” and only 4.46%of the address.
Active address by profitability. Source: INTOTHEBLOCK
In terms of technical perspective, Ether Lee’s day deadline was carried out in accordance with the 980 -day industry, which dates back to the lowest cycle before June 2022. The rest under the uphill trend line represents a long -term reversal.
However, Altcoin has recovered rapidly over the last 24 hours, up 12% from $ 1,996 to $ 2,242.
Ether Leeum 1 Week Chart. Source: COINTELEGRAPH/TradingView
The relative robbery index (RSI) has also fallen to the lowest level of many years, which further confirms the weakness of Ether Lee’s long -term market structure. However, it can mean the weakness of selling pressure in the short term, which can lead to relief rally.
Related: Bitcoin stumbled from $ 80K, rising from 12 weeks of US dollar intensity.
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.