Ether must reclaim the “macro” vary above the $2,200 mark to amass extra upside momentum as crypto markets stay pressured by world macroeconomic issues till no less than the start of April.
Ether (ETH) worth is down over 51% throughout its three-month downtrend after it peaked above $4,100 on Dec. 16, 2024, TradingView information reveals.
ETH/USD, 1-day chart. Supply: Cointelegraph/TradingView
To stage a reversal from thncoinglis downtrend, Ether worth must reclaim the “macro vary” above $2,200, wrote in style crypto analyst Rekt Capital in a March 19 X submit:
“If worth can generate a robust sufficient response right here, then #ETH will have the ability to reclaim the $2,196-$3,900 Macro Vary (black).”
ETH/USD, month-to-month chart. Supply: Rekt Capital
In the meantime, Ether’s open curiosity surged to a brand new all-time excessive on March 21, elevating investor hopes that giant merchants are positioning for a rally above $2,400.
Ether futures combination open curiosity, ETH. Supply: CoinGlass
Ether stays unable to achieve vital momentum regardless of optimistic crypto regulatory developments, such because the US Securities and Change Fee dropping the lawsuit in opposition to Ripple.
Some analysts anticipate conventional and cryptocurrency markets to be pressured by world commerce struggle issues till no less than the start of April, when international locations could discover a decision to the retaliatory tariffs.
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ETH whales solely ones shopping for: Nansen analyst
Whereas some crypto merchants typically blame massive traders, or whales, for market downturns, these members are merely “taking part in the market in any course,” in keeping with Nicolai Sondergaard, a analysis analyst at Nansen.
The analyst mentioned throughout Cointelegraph’s Chainreaction every day X present on March 21:
“The ETH whales within the 10k to 100k have truly been accumulating ETH, whereas everybody else has been dumping.”
The Crypto Debanking Disaster: #CHAINREACTION https://t.co/nD4qkkzKnB
— Cointelegraph (@Cointelegraph) March 21, 2025
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The variety of addresses with no less than $100,000 price of Ether began rising at the start of March, from simply over 70,000 addresses on March 10 to over 75,000 on March 22, Glassnode information reveals.
ETH: Variety of Addresses with Stability ≥ $100k. 12 months-to-date chart. Supply: Glassnode
Compared, there have been over 146,000 wallets with over $100,000 in ETH steadiness on Dec. 8, when Ether’s worth was buying and selling above $4,000.
Regardless of the potential for short-term volatility, traders stay optimistic for the remainder of 2025, VanEck predicted a $6,000 cycle prime for Ether’s worth and a $180,000 Bitcoin (BTC) worth throughout 2025.
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