Can Ethereum Price Sink To $1,000 After Drop Below $2000

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Ethereum Price Faces Record Selling Spree in 3 Months, Is Rebound Likely? – Crypto News

Published

5 days ago

March 13, 2025

Dripp

Ethereum (ETH) continues to trade below $2,000 for the fourth consecutive day as the cryptocurrency faces a record selling spree. The outlook for ETH is unlikely to change anytime soon, as indicated by the Net Taker Volume on-chain metric. So, expecting an Ethereum price bounce here, especially if Bitcoin (BTC) continues to trend lower, is highly unlikely.

Ethereum Price Today

Ethereum price today is down 1.71% and currently trades at $1,931. ETH’s year-to-date performance stands at -42%, showing that the lackluster and bearish price action of 2024 has spilled over to 2025. The upcoming staking approval from the US Securities and Exchange Commission (SEC) could be a catalyst that could trigger an uptrend, provided the overall crypto market outlook remains bullish.

Taker Volume Notes Record Selling Spree

According to CryptoQuant data compiled by Maartunn, the 30-day average of Net Taker Volume continues to drop, illustrating investors’ bearish outlook on Ethereum. This outlook also explains ETH’s 2025 YTD performance.

Taker volume refers to the trading volume generated by “takers,” market participants who execute orders immediately by taking liquidity from the order book via market orders instead of limit orders.

Ethereum Taker Volume 30D MA

Typically, a massive downtick in the taker volume indicator often coincides with potential bottoms that lead to quick, short-term reversals. However, this outlook is possible if the Bitcoin price and the macroeconomic conditions stop being bearish.

Should You Buy ETH Here?

According to AlphaExtract’s Global Liquidity Bands, ETH price has tagged the lower band, flashing a buy signal. The last time this indicator flashed a buy signal was in August 2024, which was followed by a four-month consolidation, followed by a parabolic rally to $4,000.

Ethereum Price Faces Record Selling Spree in 3 Months, Is Rebound Likely? — ETH Buy Signal

Will history rhyme? Should you buy ETH here? The chances of a potential rebound and bullish Ethereum price forecast here are good, but a better probability would be when Bitcoin price forms a stable bottom and stops crashing.

Key Support and Resistance Levels to Watch

Based on the weekly chart, the breakdown of the $2,000 to $2,200 support level has flipped it into a resistance zone. ETH price has already retested the $1,756 support level, a breakdown of which could lead to a revisit of $1,633, which has not been tagged since October 2023. In some cases, ETH’s value could also revisit $1,500.

On the other hand, a flip of $2,000 resistance level would allow ETH price to revisit $2,600, $2,768 and $3,000 blockades, all of which need to be overcome for a sustained uptrend.

Ethereum’s current outlook remains bearish, with on-chain metrics suggesting a continued downtrend, but a potential buy signal has been flashed, offering a glimmer of hope for a rebound.

Frequently Asked Questions (FAQs)

The Net Taker Volume on-chain metric suggests a bearish outlook for ETH, making a bounce unlikely, especially if Bitcoin continues to trend lower.

The 30-day average of Net Taker Volume continues to drop, illustrating investors’ bearish outlook on Ethereum and explaining its poor 2025 YTD performance.

While a buy signal has been flashed based on Global Liquidity Bands, a better probability of a rebound would be when Bitcoin forms a stable bottom and stops crashing.