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Reason to Trust
Introduction
Ethereum has once again fallen below the $2,000 mark, a psychological level it had briefly reclaimed earlier this week. The market-wide correction over the past 24 hours has weighed on Ethereum’s recovery momentum, and the leading altcoin has seen a dip in sentiment that could lead to a deeper decline or a sharp mid-term rebound.
Short-term Sentiment is Cautious, but a New Analysis Brings Attention to a Significant Technical Event
Taking to social media platform X, crypto analyst CryptoBullet pointed out that Ethereum has now touched the 300-week moving average for only the second time in its history. The first instance was in June 2022, during the market-wide crash that saw the Ethereum price plummet to as low as $880 before beginning a long, slow recovery.
Ethereum Hits 300-Week Moving Average Again: What Happened the Last Time?
Taking to social media platform X, crypto analyst CryptoBullet pointed out that Ethereum has now touched the 300-week moving average for only the second time in its history. The first instance was in June 2022, during the market-wide crash that saw the Ethereum price plummet to as low as $880 before beginning a long, slow recovery. The second occurrence has come this month, March 2025, just as Ethereum continues to extend its struggles in gaining a footing above $2,000.
What Happened the Last Time?
In June 2022, Ethereum’s touch of the 300-week moving average marked the beginning of a long-term recovery phase. After the bounce from that level, the Ethereum price surged more than 140% over the next eight weeks, eventually pushing above $2,100 in August 2022 before another correction.
Mid-Term Rebound in Focus for ETH, but Resistance Ahead
CryptoBullet noted the significance of this moving average, framing it as a key historical support zone. The analyst argued that regardless of bearish sentiment in the short term, this kind of macro-level support typically sets the stage for a meaningful bounce.
Conclusion
In conclusion, Ethereum’s price is trapped under bearish sentiment, and bulls will need to reclaim the $2,000 zone before any sustainable bounce toward the $2,900 and $3,200 range can begin to materialize. Furthermore, the recent price correction in the past 24 hours increases the risks of the Ethereum price closing March below the 3M Bollinger bands, which is currently just around $2,000.
FAQs
Q: What is the current price of Ethereum?
A: The current price of Ethereum is $1,907, down by 5.82% in the past 24 hours.
Q: What is the significance of the 300-week moving average in Ethereum’s price action?
A: The 300-week moving average is a key historical support zone, and a touch of this level can mark the beginning of a long-term recovery phase.
Q: What is the potential range for Ethereum’s price in the coming weeks?
A: CryptoBullet’s analysis suggests a potential range of $2,900 to $3,200.
Q: What are the risks facing Ethereum’s price in the coming weeks?
A: The recent price correction in the past 24 hours increases the risks of the Ethereum price closing March below the 3M Bollinger bands, which is currently just around $2,000.
