Price of Ethereum (ETH) Falls Below $2,000; $1,600 May Be Next
With a rebound on March 11, Ethereum’s price movement provided much-needed confidence. When the price of Ethereum (ETH) surpassed that of Bitcoin (BTC) on March 19, the strong momentum resulted in a bullish candlestick.
But since then, ETH has fallen below $2,000 while Bitcoin has remained stable, confirming a long-term downward trend between the two. If Ethereum is unable to maintain $2,000, the price could drop to yet another annual low. Let’s examine the price movement to determine what will occur.
Ethereum Breaks Down
Since its cycle high of $4,106 in December 2024, Ethereum’s price has dropped by more than 50%, reaching a low of $1,759 last week.
In March 2025, Ethereum closed below the $2,250 horizontal region after breaking out from a 1,000-day ascending support trend line.
Ethereum has not yet retested the $2,250 horizontal level, despite rebounding from a dip to $1,759 and briefly surpassing $2,000 in the process.
ETH Drop Incoming?
Ethereum rose to a high of $2,090 after breaking out from its resistance trend line, as CCN analyst Victor had predicted last week.
The wave count indicates that the short-term breakout is corrective, even though it did occur. The triangle in wave B indicates that the movement is an A-B-C structure (green), according to the most likely count.
The only other option is a corrective structure because symmetrical triangles cannot represent wave two in an impulsive movement, according to Elliott Wave theory.
This possibility is supported by the fact that waves A and C are of the same length. The goal of $1,550, which corresponds to the long-term horizontal support area, is given by the structure’s 1.61 external Fibonacci retracement.
On the other hand, increasing above the wave C high of $2,070 will invalidate this count, leading to new Ethereum price highs. This currently seems unlikely.
Bearish Ethereum Trend
Ethereum’s decline from long-term diagonal and horizontal support levels validated its bearish trend.
The increase is a corrective structure, and it could have terminated on March 19, even if the price bounced on March 11.
If this is true, Ethereum will keep declining in the direction of the next nearest support level, which is $1,600.
Disclaimer and Risk Warning
coinweck does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. The image used in this article is for informational purposes only and is provided to us by a third party. coinweck should not be held responsible for image copyright issues. Contact us if you have any issues or concerns. Readers should do their research before taking any actions related to the company.