Ethereum
Ethereum Poised To Test $2,800 Support Level If Market Downtrend Persists – Analyst

Ethereum experienced a sharp decline yesterday as the broader cryptocurrency market tumbled. ETH prices dropped over 9% in just a few hours, shaking investor confidence and raising concerns about a potential deeper correction. The sudden downturn has sparked fear across the U.S. markets, adding to the uncertainty that has gripped the crypto space this Monday morning.
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Top crypto analyst Carl Runefelt shared a technical analysis on X, shedding light on Ethereum’s precarious position. According to Runefelt, Ethereum might test the $2,800 support level if the market continues its downward trajectory today. This key level could serve as a critical juncture for ETH, as losing it might lead to further declines and heightened selling pressure.
Market sentiment has taken a hit, with many investors bracing for increased volatility in the days ahead. Analysts are closely monitoring macroeconomic indicators and broader market movements to gauge the potential impact on Ethereum’s price action. As ETH hovers around pivotal support zones, the next 24 to 48 hours will be crucial in determining whether the cryptocurrency can regain momentum or face a deeper correction. Investors are urged to tread cautiously as the market navigates this volatile phase.
Ethereum Faces Intense Selling Pressure
Ethereum has been under significant selling pressure since late December, reflecting the heightened volatility that has gripped the broader cryptocurrency market. Analysts and investors are increasingly bearish, with sentiment suggesting that ETH may continue to decline in the coming days. This challenging phase has raised concerns about the asset’s near-term prospects, leaving many market participants on edge.
Top crypto analyst Carl Runefelt shared his technical analysis on X, highlighting a critical support level for Ethereum. Runefelt predicts that ETH might reach the $2,800 support level if the current market downturn persists. This key level could be a strong foundation for a potential recovery or signal further weakness if broken.

Despite the bearish sentiment, some investors and traders see this potential drop as an opportunity. Ethereum remains one of the most prominent cryptocurrencies, and many believe it is still poised for significant gains this cycle. A correction to $2,800 could provide an attractive entry point for those confident in Ethereum’s long-term fundamentals and growth potential.
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As the market continues to navigate this uncertain period, all eyes are on Ethereum’s price action. Whether it holds at critical support or succumbs to additional selling pressure will play a crucial role in shaping its trajectory in the weeks ahead.
Price Holds Above Critical Support
Ethereum (ETH) is currently trading at $3,050, maintaining a position just above the 200-day moving average, which stands at $2,988. The 200-day moving average is widely regarded as a long-term indicator of strength, and holding above this level could signal a potential reversal of the ongoing downtrend.

The market is watching closely to see if Ethereum can maintain this critical support, as it could mark the beginning of a recovery phase. Analysts highlight that staying above the 200-day moving average is essential to building bullish momentum and restoring investor confidence in the short term.
However, holding support is only the first step. To confirm a trend reversal and establish a stronger bullish outlook, Ethereum must reclaim the $3,300 resistance level. This would indicate that buyers have regained control, potentially paving the way for further upside.
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On the flip side, losing the $2,988 level could lead to increased selling pressure, with the possibility of ETH testing lower support levels. As the market navigates this pivotal moment, the coming days will be crucial in determining whether Ethereum can sustain its current levels and make a push toward reclaiming higher ground. For now, traders and investors remain cautiously optimistic.
Featured image from Dall-E, chart from TradingView
Ethereum
Ethereum Is ‘Completely Dead’ As An Investment: Hedge Fund


In a post on X this past weekend, Quinn Thompson, Chief Investment Officer (CIO) of Lekker Capital, declared that Ethereum (ETH) is “completely dead” as an investment. His comments sparked a flurry of responses from prominent figures in the crypto industry, including Nic Carter of Castle Island Ventures, Columbia Business School professor Omid Malekan, and VB Capital’s Scott Johnsson.
Thompson, who oversees investments at Lekker Capital, set off the debate with a post stating: “Make no mistake, ETH as an investment is completely dead. A $225 billion market cap network that is seeing declines in transaction activity, user growth and fees/revenues. There is no investment case here. As a network with utility? Yes. As an investment? Absolutely not.”
He also shared a set of metrics to underscore Ethereum’s recent stagnation, including data on active addresses, transaction counts, and new address creation.

Is Ethereum ‘Dead’ As An Investment?
The provocative statement attracted immediate responses from prominent voices across the crypto ecosystem, triggering a debate over Ethereum’s economic and investment thesis, and specifically, the influence of Layer 2 (L2) scaling solutions on Ethereum’s native token economics.
Nic Carter, partner at Castle Island Ventures and co-founder of blockchain analytics firm Coinmetrics, swiftly responded, pinpointing Ethereum’s valuation dilemma squarely at the feet of its Layer 2 scaling implementations:“The #1 cause of this is greedy eth L2s siphoning value from the L1 and the social consensus that excess token creation was A-OK. Eth was buried in an avalanche of its own tokens. Died by its own hand.”
Thompson reinforced Carter’s criticism by suggesting that Ethereum’s community consensus had inadvertently favored token proliferation as a wealth-generation mechanism, ultimately undermining ETH’s investment narrative: “The social consensus among .eth’s in favor of excess tokens was because the creation of endless L2s, staking, restaking, DA, etc etc all enriched their pockets on the way up but no one wants to face the music now that the market is saying that was a mistake.”
However, this viewpoint was contested by Omid Malekan, professor at Columbia Business School and specialist in cryptocurrency and blockchain technology since 2019. Malekan underscored Layer 2s’ critical role in blockchain scalability and argued that any value-extraction by these secondary layers was not inherently detrimental to Ethereum’s foundational token economics: “L2s are the only viable way to scale any blockchain. Whether their tokens capture value or not is a separate question. But it can’t be that L2s ‘siphoned value from ETH’ yet didn’t capture value themselves. Security is not free.”
Malekan further challenged Thompson’s claim by questioning whether Ethereum could realistically become the first example in history of a widely adopted technological network whose utility failed to generate any meaningful financial return: “Is Ethereum going to be the first network ‘with utility’ in modern history where the network effects aren’t monetized? Can you provide any other examples of this happening?”
In response, Thompson clarified his argument, highlighting that monetization is indeed occurring within the Ethereum ecosystem, but not sufficiently accruing to ETH itself to validate the cryptocurrency’s current market capitalization. He illustrated this point with an analogy: “There’s tons of network effects being monetized all over the place, just not enough to ETH to justify its current valuation. Do all the network effects of the oil network and usage of oil accrue to oil?”
However, the oil analogy drew skepticism from Scott Johnsson, General Partner at VB Capital, who critiqued Thompson’s comparison due to Ethereum’s unique tokenomics, particularly its deflationary token burning mechanics influenced directly by network usage:
“I don’t disagree with your directional call, but I think this analogy falls flat. ETH ‘production’ is inversely correlated with usage, which is certainly not the case with oil. So as oil price increases, there is a demand response and a supply response. With ETH, it’s limited to the demand response. If ETH consumption looks like barrel consumption, then the price of ETH is far more likely to accrue value.”
Yet Thompson continued to disagree with Johnsson’s assessment, arguing that historical patterns do not necessarily support the claim of inverse correlation between Ethereum production and usage: “I disagree. We’ve never seen a sustained period of time where ‘ETH production is inversely correlated with usage.’ Obviously, the ‘production’ mechanics differ from oil, but similarly high ETH price is prohibitive to demand, hence L2s and cheaper alternative L1s.”
Acknowledging a possible misunderstanding, Johnsson clarified he was not predicting future Ethereum usage scenarios, emphasizing instead the theoretically inverse relationship between token burn and transaction volume under the current Ethereum network design: “I think we’re talking past each other a bit. I don’t think it’s arguable that if ETH usage increases that it leads to more burn and less inflation (production). I’m specifically not making future predictions on that usage. In any event, your ultimate point is fine imo because the demand side is so sensitive to really any cost.”
At press time, ETH traded at $1,793.

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Ethereum
Whales Accumulate 470,000 Ethereum In One Week – Bullish Momentum Ahead?


Ethereum is now trading above the $2,000 mark after several days of struggle, marking a potential turning point for the second-largest cryptocurrency by market cap. ETH had plunged over 38% since late February, sparking panic among investors when the price broke below the critical $2,000 level and briefly fell under $1,800. This sharp drop led many to question whether the broader altcoin market was entering a prolonged bear phase.
However, the recent recovery and price stabilization above $2,000 have renewed optimism among Ethereum holders. Many investors believe the worst may be over and that ETH could begin building the foundation for a sustained recovery in the coming months.
Supporting this sentiment, data from Santiment reveals that whales have bought roughly 470,000 ETH over the past week. This notable accumulation from large holders suggests growing confidence in Ethereum’s long-term potential, even amid recent volatility. Historically, whale accumulation has preceded major price rallies, adding to speculation that Ethereum could be gearing up for a significant upward move.
While uncertainty remains, current on-chain signals and market behavior hint that ETH may be preparing for a bullish breakout — if bulls can defend key support levels and reclaim higher ground.
Ethereum Builds Momentum Amid Potential Recovery
Ethereum is showing signs of life after a prolonged period of consolidation and selling pressure. The recent push above the $2,000 mark has given bulls a critical opportunity to reclaim control and ignite a recovery uptrend. However, price action remains uncertain, with the market caught between expectations of a continued downtrend and hopes for a meaningful reversal.
Bulls must now defend the $2,000 support level with strength. This price point has been a major psychological and technical barrier over the past few months, and a solid hold above it could provide the foundation for a broader rally. A failure to maintain this level, however, could invite further downside pressure and signal the continuation of the bearish trend.
Adding to the growing optimism is new on-chain data shared by top analyst Ali Martinez. According to Santiment, Ethereum whales have accumulated roughly 470,000 ETH in the past week. This surge in accumulation from large holders suggests confidence is returning to the market and could indicate that smart money is positioning for a potential move higher.

Historically, heavy whale buying has often preceded major price increases, serving as a leading indicator for broader market sentiment. If bulls continue to step in and Ethereum maintains its footing above $2,000, a recovery toward $2,300 and beyond may soon be on the table.
ETH Price Hovers Above $2,000 As Bulls Try To Find Momentum
Ethereum is trading at $2,090 after a sharp rebound from recent lows, marking its first sustained move above the $2,000 level in weeks. This area has become a critical battleground between bulls and bears, as ETH has struggled below this mark since early March. Now, with price action pushing higher, bulls must defend this support zone to maintain momentum.

To confirm a meaningful recovery, Ethereum must break above the $2,200 resistance—an area aligned with previous consolidation and short-term moving averages. A successful reclaim of this level would likely ignite renewed bullish momentum and open the path toward $2,300 and higher.
However, if bulls fail to hold the $2,000 mark, selling pressure could return quickly. A breakdown below this level would signal weakness and potentially send ETH back toward the $1,800 zone, which served as a recent bottom during the sell-off.
Momentum is slowly shifting, but the next few trading sessions will be crucial. Ethereum needs sustained buying volume and stronger confirmation above $2,200 to establish a true bullish reversal. Until then, the $2,000 line remains the key level to watch as the battle for direction continues.
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Ethereum
Ethereum Analyst Eyes $1,200-$1,300 Level As Potential Acquisition Zone – Details

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Ethereum is facing mounting pressure after weeks of relentless selling and underwhelming price action. Since January, bulls have failed to regain control, and ETH has continued to bleed value in a market increasingly dominated by fear and uncertainty. With no clear signs of a reversal, the coming weeks could bring more pain for investors holding long positions.
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Global financial markets remain on edge as trade war fears and geopolitical tensions intensify. This hostile macro environment has driven investors away from high-risk assets like cryptocurrencies, and Ethereum has been one of the hardest hit. The weakness in price reflects not only technical breakdowns but also a broader lack of confidence in short-term recovery.
Top analyst Big Cheds recently shared a technical analysis showing Ethereum is now trading at $1,840 — a staggering drop from its $3,400 level earlier this year. According to Cheds, this confirms the continuation of the current downtrend, with ETH now moving into lower demand zones that could offer limited support.
Unless bulls step in with strength, Ethereum’s outlook remains bearish. The market is watching closely to see if $1,800 can hold — or if deeper losses lie ahead as momentum continues to favor the downside.
Ethereum Under Pressure As Key Levels Collapse
Ethereum is in a critical position as it continues to lose key support levels under mounting selling pressure. After briefly reclaiming the $2,000 mark in recent weeks, ETH has once again fallen below this crucial threshold — a failure that has intensified bearish sentiment and placed bulls in a defensive stance. With each failed recovery attempt, investor confidence weakens, and analysts are now calling for a deeper correction in the coming weeks.
The situation is particularly delicate as Ethereum serves as the backbone for much of the crypto ecosystem. A sustained downtrend in ETH doesn’t just impact its own holders but also influences the broader altcoin market and DeFi sectors that rely on Ethereum’s price strength for momentum. The continued decline has heightened concerns that a prolonged bear phase may be unfolding.
Big Cheds shared a bearish technical outlook, pointing to the severity of ETH’s drop from its $3,400 local high to the current $1,840 level. According to Cheds, if the downtrend continues, the next key accumulation zone to watch could be between $1,200 and $1,300 — a range that previously acted as a strong base during earlier cycles.

If Ethereum falls to that zone, it would represent a correction of over 60% from its recent peak. Such a move would signal a major breakdown in structure and test long-term investor conviction. For now, bulls must fight to hold the $1,800 level and attempt to reclaim lost ground. Without a shift in momentum soon, the road ahead for ETH looks increasingly challenging — and the broader market may follow its lead downward.
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Key Resistance Levels Remain Untouched
Ethereum is currently trading at $1,840, continuing to show weakness after failing to reclaim the 4-hour 200 moving average (MA) and exponential moving average (EMA), both sitting near the $2,100 level. These indicators have acted as strong dynamic resistance since December 2024, and ETH has consistently traded below them — a clear sign that bears remain in control of the trend.

This prolonged weakness below the 200 MA and EMA has reinforced the bearish momentum, with bulls unable to regain any meaningful ground in recent months. Until Ethereum can break back above these key technical levels, any attempt at a sustained recovery is likely to fall short.
A reclaim of the 200 MA and EMA could trigger a significant upside move, as it would signal a shift in short-term market structure and potentially spark renewed buying interest. However, even before that happens, bulls must focus on reclaiming the psychological $2,000 level — a major price zone that has repeatedly defined the battle between buyers and sellers.
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If ETH can break above both $2,000 and $2,100 with volume, it may mark the beginning of a stronger recovery phase. Until then, price action remains vulnerable and tilted toward the downside.
Featured image from Dall-E, chart from TradingView
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