Ethereum Drops 32% in a Month, Analysts Predict Further Decline

Ethereum (ETH) has been facing significant challenges in recent months, with its price struggling to reclaim its all-time high of $4,878 from November 2021. While other cryptocurrencies like Bitcoin (BTC) and Solana (SOL) have surged to new all-time highs, Ethereum has lagged behind, dropping from $2,800 on February 13 to around $1,900 in the past month. This decline has been driven by broader crypto market pullbacks, geopolitical tensions, and tariff concerns.

According to seasoned crypto analyst Ali Martinez, Ethereum's price could face further decline as it risks breaking down from an ascending triangle pattern. This pattern suggests that ETH has been trading within a range, failing to decisively break through the $4,000 resistance level. The breakdown from this pattern raises the possibility of a crash to as low as $800, a level not seen since December 2020.

Ethereum's woes are further exacerbated by the relentless selling it has witnessed over the past few months. Since January 2020, ETH has faced the highest selling in the first three months of 2025, according to a post by CryptoQuant CEO, Ki Young Ju. This selling pressure has contributed to Ethereum's below-average price performance relative to other digital assets.

Another crypto analyst, Ted, has emphasized the similarity between the current ETH price crash and the capitulation candle in March 2020 due to the COVID pandemic. Ted suggests that while ETH may go lower towards the $1,400-$1,600 level, this does not mean the end for Ethereum. He predicts that $10,000 ETH will happen this cycle.

Despite the pessimism surrounding ETH's short-term price action, some analysts suggest that the digital asset may soon witness a swift price recovery. Crypto trader Merlijn The Trader highlighted Ethereum’s 3-year Stochastic Relative Strength Index (RSI) level, noting that ETH’s Stochastic RSI is significantly oversold. This raises optimism for a potential “massive rally.” The Stochastic RSI is a momentum indicator that shows whether an asset is overbought or oversold by comparing the RSI to its recent range. Values below 0.2 indicate oversold conditions, suggesting a potential rebound.

Additionally, crypto analyst Crypto Yoddha stated that ETH may have already hit the bottom for this market cycle. At the time of writing, ETH trades at $1,854, down 1.2% in the past 24 hours. This analysis provides a glimmer of hope for Ethereum holders, suggesting that the worst may be over and a recovery could be on the horizon.