In the last 30 days, Ethereum has seen a drop of 27.7%. Currently, the Ethereum price stands at $1,976.75. Analysts warn that if the downtrend continues, the price could slip as low as $1,060. Here is a detailed look at why Ethereum is struggling.
Ethereum Struggles to Stay Above Key Levels
A price action analysis indicates that the Ethereum market has attempted to break above the $4,000 level at least three times in the current cycle. Each time the price has been rejected, it has been pushed further downward.
The analysis also shows that the ETH market has slipped below an upward-sloping trendline support, which had been holding since the previous cycle bottom.
Currently, the price of Ethereum remains at $1,976.75.
Analysts note that it is important for ETH to reclaim the $2,500 level in the near future.
Analysts warn that if the downtrend continues, the Ethereum price could plummet to $1,060.
Weak Market Structure and Bearish Indicators
Until Ethereum finds a solid bottom, the market will continue its downward momentum.
The RSI reading on the daily chart of Ethereum stands at 41.75. Though the RSI indicator indicates that there is more room for growth in Ethereum, without favourable market conditions, this altcoin may not be able to benefit fully from supportive technical signals.
ETF Outflows and Declining Investor Interest
According to Coinglass data, Ethereum-based ETFs in the US have seen consistent outflows in 2025.
Yesterday alone, at least $52.80 million flowed out of the Ethereum spot ETF market. In the last seven days, no fewer than 248 million have left the ETH spot ETF market.
Data suggests that Bitcoin spot ETFs have performed better than Ethereum spot ETFs. This indicates that institutional investors are preferring Bitcoin over Ethereum.
On-Chain Data Shows Weak Network Activity
An on-chain analysis shows that the network usage of Ethereum has decreased considerably. Reports indicate that the number of transactions on the Ethereum network this month has dropped considerably compared to the same month the previous year. Importantly, the median gas fees have decreased considerably on the mainnet.
Ethereum Market Overview
At the start of this month, the price of Ethereum remained at $2,218.81. Though on the second day, the market witnessed a steep upward momentum of 13.7%, on the third day, it experienced a severe correction of 14.66%. The second serious correction of the month was a 15.16% correction that occurred between March 9 and 10. ETH has not yet recovered from the impact of these two corrections.
