Ethereum Price Analysis

• Ethereum struggles at $1.9K, facing bearish signals across multiple timeframes.
• Whale accumulation and rising trading volumes show hidden strength despite bearish charts.
• Strong support near $1,900 could prevent further decline and fuel a potential rebound.

Ethereum (ETH) continues to face pressure as the price recently dropped to $1.9K, breaking a significant trendline. Bears maintain a dominant position across the three-week, monthly, and bimonthly charts. A major candle will close in eight days, adding to the uncertainty. Despite this weakness, strong on-chain activity reflects resilience, with whales accumulating ETH and increased trading volumes indicating hidden strength.

> .$ETH UPDATE
>
> Drop to $1.9k completed.
> 3W remain bearish & broke down macro trendline.
> Monthly bearish
> Bimonthly bearish
> 3M closes in 8 days. I don’t like this tbh.
>
> A little up before more downside.
> $1.5k is where I have my eyes at for a decision time!
> .
> — ⭐RᗩᖴᗩEᒪᗩ 𝗥𝗜𝗚𝗢 ⭐ (@RAFAELA_RIGO_) March 23, 2025

Whales Show Confidence as Trading Activity Surges

Despite bearish technicals, Ethereum managed to reclaim $2,000, signaling hidden strength. Trading volumes saw a spike of 60.6%, reaching $10.89 billion. Futures open interest also rose 6.66% to $21.61 billion. Active trading persists, and crypto analyst Ali Martinez reported significant whale activity, with large investors purchasing 470,000 ETH within a week. This aggressive buying indicates confidence in Ethereum’s long-term growth.

Ethereum’s Support Zone Holds Strong

A major accumulation zone has emerged between $1,886 and $1,944, where over 3 million investors collectively hold 6.12 million ETH. This price range has developed into a crucial support zone, making it challenging for bears to drive prices lower. Analysts expect Ethereum to hover above $2,000 before taking a decisive action. Chart patterns, like a potential Adam & Eve formation in the ETH/BTC pair, may suggest further upward movement if confirmed. Despite bears remaining in control, strong investor commitment indicates that a critical turning point for Ethereum is approaching.