- Ethereum appeared to have a bearish market construction on a number of timeframes
- Bears haven’t slowed down their promoting, and ETH may fall in direction of $1.6k subsequent
Ethereum [ETH] has fallen by 11.8% over the previous week, with technical evaluation revealing that market bears haven’t weakened. In actual fact, ETH whale transfers to exchanges underlined the bearish market sentiment.
On the time of writing, ETH bulls had been swimming in opposition to the tide, and the prospect of additional losses was rising extra possible.
Ethereum sinks under early March help
Supply: ETH/USDT on TradingView
Ethereum had a strongly bearish outlook on the 1-day timeframe. It was once more under the 20-day transferring common and has been for many of 2025. The transferring averages confirmed the bearish momentum didn’t decelerate both.
Neither did the promoting stress ease as ETH fell under the $2,000-psychological stage. The OBV made decrease highs and decrease lows and made a brand new decrease low on 30 March. This signified a downtrend in progress on the OBV, and regular promoting stress on Ethereum.
The $1,824 and $1,550 help ranges from October-November 2023 can be the subsequent worth targets for ETH. Because it closed a 1-day buying and selling session under $1,824, the bears would possible have management of the area.
Supply: ETH/USDT on TradingView
The 4-hour chart confirmed that the $1,850 zone, which served as help in mid-March, is now appearing as resistance. The market construction gave the impression to be bearish too. The rally in direction of $2,128 didn’t meet its goal, however reversed at $2,100. The $1,950 increased low was not defended both.
The OBV, prefer it did on the 1-day chart, continued its regular downtrend. Therefore, the worth motion on the each day and the 4-hour charts pointed to additional losses for the main altcoin.
Supply: Coinglass
The liquidation heatmap outlined $2,150 as a magnetic zone that might pull costs increased. On the similar time, the $1,760-$1,640 space emerged as a liquidity pocket a lot nearer to the worth. This meant Ethereum is more likely to fall decrease in direction of $1.6k within the coming days.
Given the worth motion and the market sentiment, extra losses could also be possible within the short-term. The long-term downtrend has not been halted both.
Disclaimer: The data offered doesn’t represent monetary, funding, buying and selling, or different forms of recommendation and is solely the author’s opinion
