ETH Price Plummets: Key Support Levels and Bearish Indicators

Key Insights:

• Ethereum falls under $2,100, and that is a bearish indicator with huge selling pressure and market uncertainty.

• They note significant support at $2,000, which a dip below would see additional losses to $1,800 or lower.

• Long-term trendline of resistance remains highly relevant, and previous rejections do indeed signal pullback before recovery ultimately occurs.

Ethereum (ETH) has experienced a steep fall below the $2,100 support level because of massive selling pressure. The crypto market has turned volatile, with the Ethereum price falling by 15.41% in one day. The experts are closely monitoring the key levels to understand the next likely move.

Ethereum Faces Critical Support Breakdown

Crypto analyst Crypto Tony reported that Ethereum has lost the $2,100 support zone, signaling a bearish trend. The weekly ETH/USDT timespan from Bybit displays a price drop, with Ethereum struggling to maintain higher levels. The price action indicates a breakdown from the $2,800 resistance level leading to the prevailing downtrend towards the $2,000 mark.

Source: Crypto Tony

Ethereum previously experienced an uptrend between late 2022 and mid-2024, when it hit over $4,000 before the reversal. The key support level at $2,000 has been tested numerous times, and the recent breakdown in the bearish trend comes to confirm. Multiple rejection wicks at the resistance zone indicate strong selling pressure, preventing further upward movement.

Ethereum's market structure has shifted from an uptrend to a downtrend, forming lower highs and lower lows. The breakdown from the support-turned-resistance zone near $2,800 confirms the ongoing bearish movement. The absence of volume data in the time frame does not affect the clear bearish signal, as price action alone reflects strong downward momentum.

Market participants are closely watching the $2,000 support level for signs of either a rebound or further decline. A weekly close below this level may lead to additional downside movement, potentially testing lower supports. The broader market cycle suggests that liquidity zones around key levels dictate Ethereum’s price behavior.

Long-Term Market Trends and Technical Analysis

Mister Crypto analyzed Ethereum's price movement on a monthly candlestick time frame from Bitstamp, highlighting a long-term upward trendline as resistance. The timespan spans 2016 to 2025, showing Ethereum's historical price movement. The price had a very strong rally in its initial days, reaching an all-time high in late 2021 before a sharp correction followed.

The big demand zone in the range of $1,000 to $2,500 acted as firm support, which stopped further bearish price actions. After consolidation in this zone, Ethereum continued to go up, forming successive green monthly candles. The overall long-term market structure remains bullish, with higher highs and higher lows defining Ethereum's price movements.

Ethereum is currently approaching the long-term resistance trendline, which has in the previous instances initiated corrections in the market. The previous encounters with the trendline resulted in price rejections, so it is an important point to watch. The current bullish pressure indicates incessant buying, even though a likely pullback remains possible.

The Ethereum price behavior is in the trend of the past cycles, where steep corrections are followed by steep rebounds. The $2,500 support level played a crucial role in halting the past downtrend, resulting in the current rally. The market remains in an uptrend, with buyers waiting for the resistance level to be broken or rejected.

If Ethereum breaks above this resistance, it can go into price discovery, aiming at fresh all-time highs. A rejection from the trendline might lead to a pullback, testing lower support points before a potential resumption of the uptrend. The monthly time frame gives us a bird's eye view and highlights Ethereum's overall direction.

Ethereum’s Short-Term Market Behavior

Analyst Ali Charts provided a daily time frame of Ethereum (ETH/USD) with defined support and resistance levels. The chart runs through from the beginning of 2024 to March 2025, capturing Ethereum's price action in significant price levels. Ethereum experienced a massive rally at the start of 2024 to highs of about $3,600 to $4,000 before turning downwards.

Source: Ali Charts

The price action shows Ethereum entering into a period of distribution, making lower highs before the drastic fall. The major breakdown occurred around $2,900, where Ethereum could not find any support, leading to a decline towards the $2,200-$2,400 area. The current price action has Ethereum testing the $2,129 support level, mirroring an intraday plunge.

Ethereum boasts a clearly defined price structure made up of clear horizontal levels of support and resistance. The $3,600, $2,900, and $2,400 levels have been significant reversal points in recent price action. The rejection at the higher resistance level spawned a pattern of lower lows, in line with Ethereum's downtrend.

The timespan lacks volume data, but the sharp drop indicates strong selling pressure. There has been added volatility since Ethereum's drop, and the cryptocurrency is attempting to stabilize at the current support level. If Ethereum cannot remain above that level, the next supports are at $1,800 and $1,400.

The general direction of the Ethereum market turned from bullish to bearish following a breakdown in sustaining the momentum above $3,600.The formation of lower highs and lower lows indicates continued market weakness. Ethereum is currently approaching key psychological levels where traders will determine its next direction.

Historical price action reveals that Ethereum previously rebounded from similar levels before resuming an uptrend. The market remains in corrective mode since the breakdown from the upper resistance zones. Traders are keeping a close eye on Ethereum's response at these levels to dictate subsequent price movement.

The ongoing downtrend reflects Ethereum's failure to sustain key support zones. Price remains volatile with room for further downside should selling pressure continue. Ethereum’s next movement will largely depend on market reactions at these crucial price levels.