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Ethereum is trading below the $1,900 level after weeks of persistent selling pressure, and signs suggest that the downside momentum could continue. Bulls lost control back in late February when ETH failed to hold the $2,500 mark — a key level that many viewed as critical for sustaining a bullish outlook. Since then, Ethereum has continued to underperform, disappointing investors who had anticipated a strong 2025 rally fueled by growing institutional interest and market optimism.

Instead, macroeconomic uncertainty, global tensions, and weakening market sentiment have weighed heavily on high-risk assets like Ethereum. Price action has remained underwhelming, with failed attempts to reclaim key resistance levels adding to bearish sentiment.

Adding to these concerns, crypto analyst Ali Martinez shared insights showing a significant decline in on-chain activity. Since late February, the number of large Ethereum transactions — typically involving whales and institutional players — has dropped significantly. This decline suggests that major market participants may be stepping back, reducing their exposure as uncertainty lingers.

Ethereum Under Pressure As Macroeconomic Fears Grow

Ethereum continues to struggle under mounting pressure as macroeconomic uncertainty and global instability ripple through financial markets. Among the most affected are high-risk, volatile assets like Ethereum, which have seen significant outflows in recent weeks. The broader market sentiment remains fragile, largely driven by US President Donald Trump’s unpredictable policy decisions and tariff threats. His administration’s economic stance has injected fresh uncertainty into global markets, pushing investors toward safer assets and away from speculative plays like ETH.

Bulls are finding it increasingly difficult to defend key support levels. After failing to hold above $2,500 in late February, Ethereum has slipped steadily lower, now trading below $1,900 — a level that once served as a critical psychological threshold. With little sign of renewed buying pressure, the risk of a continued selloff looms large.

Ali Martinez shared alarming on-chain data showing that since February 25, the number of large Ethereum transactions has dropped by 63.8%. This decline in whale activity signals that major holders may be exiting or sitting on the sidelines, reducing overall market confidence and liquidity.

As long as macroeconomic pressures persist and whales remain inactive, Ethereum is likely to remain vulnerable. Bulls must step in to stabilize price action, or risk watching ETH fall further into lower support zones. For now, the outlook remains cautious, with continued weakness likely unless sentiment shifts or broader economic clarity emerges.

ETH Trades Below $1,900 As Bulls Defend Key Support

Ethereum is currently trading around $1,880, attempting to hold above a critical support zone near $1,750 — widely seen as the last line of defense for bulls. After weeks of sustained selling pressure, ETH remains in a vulnerable position, struggling to recover lost ground. The price is now well below the weekly 200-day moving average (MA) and exponential moving average (EMA), both sitting near the $2,500 level, which highlights the broader weakness in Ethereum’s market structure.

As long as ETH remains below these long-term trend indicators, the overall outlook stays bearish. Bulls must step in with conviction to prevent a deeper breakdown and shift momentum back in their favor. The most immediate priority is maintaining support above $1,800, which serves as a psychological and technical level of strength.

To confirm a recovery, Ethereum must also push back above the $2,000 mark in the near term. A break above this level would help restore investor confidence and could open the door for a move toward reclaiming the 200-week averages. Until then, Ethereum remains in a precarious position, and failure to defend current levels could trigger a deeper correction in the sessions ahead.

Featured image from Dall-E, chart from TradingView 

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The cryptocurrency market was fairly stable despite the global macroeconomic headwind that rocked the traditional markets during the past week. The Ethereum price didn’t enjoy the same relief as other large-cap assets, beginning the month of April almost as it ended the first quarter of 2025.

The second-largest cryptocurrency is on the verge of losing the $1,800 level, having declined in value by almost 5% in the past week. However, the latest on-chain data suggests that the Ethereum price might be close to a bottom and might be readying for a rebound in the coming weeks.

Rising Metric Says Ethereum Price Might Be Ready For A Comeback

In a recent post on the X platform, on-chain analyst Maartunn shared a fresh insight into the activity of Ethereum investors on centralized exchanges. According to the crypto pundit, this latest on-chain shift suggests that a new bottom could be brewing for the Ethereum price.

The relevant indicator here is the Net Taker Volume metric, which tracks the difference between taker buy volume and taker sell volume in a particular asset market (Ethereum, in this case). This on-chain indicator can be used to gauge the strength of the selling or buying pressure in the market.

When the Net Taker Volume is positive, it indicates that aggressive buying activity (taker buys) is overwhelming selling activity (taker sells), suggesting a growing bullish sentiment. A negative metric implies that the taker sell volume is higher than the taker buy volume, which is typically a bearish signal.

Maartunn noted in his post that aggressive selling activity has been outweighing the buying activity in the Ethereum market for over a year. However, the on-chain analyst highlighted that the taker sell volume appears to be waning and losing some steam in the past few weeks.

Source: @JA_Maartun on X

As shown in the chart above, the Net Taker Volume is forming higher lows, even as the Ethereum price is making new lower lows. This classic bullish divergence suggests that the altcoin could be preparing to bottom out and experience a bullish reversal.

As of this writing, the ETH token is valued at around $1,806, reflecting a roughly 1% price jump in the past 24 hours.

ETH Whales Trimming Their Holdings

Interestingly, a conflicting piece of on-chain data has also emerged, showing that an important class of investors known as whales has been offloading their assets. This investor cohort is influential on the market dynamics due to their significant holdings and, as such, is typically monitored by other investors.

Source: @ali_charts on X

In a April 4 post on X, crypto analyst Ali Martinez revealed that whales (holding between 10,000 and 100,000 coins) have sold over 500,000 ETH tokens in the past 48 hours. Considering the size of this sell-off and the influence of the investors, this activity could be a bearish roadblock for a possible Ethereum price recovery.

The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView

Featured image from iStock, chart from TradingView

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Ethereum is trading below the $1,900 level as selling pressure continues to mount, raising concerns that the recent downtrend could extend further. After losing the critical $2,500 support in late February, bulls have struggled to regain control. What began as a minor pullback has turned into a broader correction, disappointing investors who had anticipated a bullish 2025 for ETH.

The failure to reclaim key levels has eroded market confidence, and price action remains weak across both short and mid-term timeframes. Ethereum’s inability to sustain even brief recoveries has only reinforced the bearish sentiment that has gripped the crypto space in recent weeks.

Adding to the negative outlook, new data from Santiment reveals that whales have sold approximately 500,000 ETH over the past 48 hours. This massive distribution by large holders highlights a clear lack of confidence among some of the most influential players in the market — a trend that could weigh heavily on Ethereum’s near-term performance.

As ETH hovers below $1,900, all eyes are on whether bulls can defend remaining support levels, or if continued selling from whales and broader market uncertainty will drive the price further down in the days ahead.

Ethereum Whale Selling Fuels Bearish Outlook

Ethereum is down 55% from its December high, with price action continuing to reflect the broader market’s weakness. The selloff has been sharp and consistent, fueled by growing macroeconomic uncertainty and global instability. The latest wave of volatility was triggered by US President Donald Trump’s renewed tariff threats and unpredictable policy direction, which have spooked financial markets and driven capital away from high-risk assets.

As a result, Ethereum — a key altcoin with deep ties to speculative sentiment — has become one of the hardest-hit major cryptocurrencies. Bulls are struggling to hold support near the $1,800 level, and every attempt to rally has been met with renewed selling pressure. Without a clear shift in trend, ETH remains vulnerable to further downside in the near term.

Adding to the bearish sentiment, top analyst Ali Martinez shared data showing that whales sold 500,000 ETH over the last 48 hours. This massive distribution from large wallets suggests that even experienced market participants are growing increasingly cautious. Such activity tends to precede deeper corrections, particularly when accompanied by weak technicals and broader risk-off sentiment.

Unless Ethereum can reclaim key resistance levels and show signs of accumulation, the current trend may continue to favor sellers. As markets digest macro developments, ETH holders are watching closely for any indication that the worst is over — but for now, the pressure remains firmly to the downside.

Ethereum Trades At $1,810 As Bulls Defend Crucial Support

Ethereum is trading at $1,810 after repeated failed attempts to reclaim the $1,900 level. The price continues to face strong resistance, and bullish momentum has significantly weakened in recent weeks. Bulls are now in a critical position, with $1,800 emerging as the most important support level in the current cycle. A decisive breakdown below this mark could trigger a deeper correction, potentially sending ETH as low as $1,550 — a zone not seen since mid-2023.

The broader crypto market remains under pressure, and Ethereum’s price action reflects that. Sentiment has been weighed down by macroeconomic headwinds and aggressive selling from whales, adding to the difficulty for bulls to regain control. Still, hope remains if ETH can stabilize and push higher in the coming sessions.

A breakout above the $2,000 level would mark a significant shift in momentum and could spark a strong recovery rally. That level remains the psychological and technical threshold for a potential trend reversal. Until then, Ethereum continues to walk a tightrope between consolidation and further downside, with bulls needing to hold $1,800 at all costs to avoid cascading losses. The next few days will be crucial in determining ETH’s short-term direction.

Featured image from Dall-E, chart from TradingView 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.