Ethereum Price Hits Yearly Low; Could ETH Crash to $1,000?

Highlights:

• Ethereum price breaks multi-year support, signaling a potential fall toward $1,150
• Dormant Whale transfers $20M in ETH, sparking market attention
• Technical indicators confirm a strong bearish trend with limited recovery chances

Ethereum (ETH) price dropped sharply in the last 24 hours, hitting its lowest point this year amid growing market concerns. The decline follows heightened fears of a potential Black Monday, triggered by former U.S. President Donald Trump’s harsh tariffs and aggressive trade stance.

ETH is currently struggling to hold above the $1,500 support level, indicating a weakened buyer position. Market sentiment remains uncertain as investors monitor geopolitical and economic developments.

Bitcoin (BTC) faced a sharp decline of about 10% which pushed its price down below the $80,000 threshold. Major alternatives Solana (SOL) and Ripple (XRP) suffered worse market impacts through drops exceeding 15%. The current market volatility reveals itself through multiple spikes that result from risk-averse investors’ reaction to global uncertainties and risk-tightening factors.

The crypto markets worldwide suffered a 9.13% decline leading the total market capitalization to reach $2.41 trillion. The 24-hour market volume demonstrated substantial growth of 269.84% to reach $155.52 billion because traders engaged in panic-driven sales during this period.

Analyst Sees Ethereum Price Heading to $1,150 After Technical Breakdown

The crypto analyst Ali showed that Ethereum (ETH) experienced a strong breakdown of its established triangle pattern, suggesting future price decreases. 

A shared chart demonstrates how ETH moved under its multi-year ascending support line, resulting in foreseeable bearish market trends. The triangle measuring relies on $1,150 as its upcoming essential level by extending the triangle height from the breakdown point.

#Ethereum $ETH has broken out of a multi-year triangle pattern, setting its sights on $1,150 as the next major target! pic.twitter.com/Fk96dzWlT3

— Ali (@ali_charts) April 6, 2025

Dormant Ethereum Whale Moves $20M ETH

The whale holding ETH for eight years performed a transaction of 11,104 ETH on Monday night and directed portions to Coinbase. Lookonchain reported that the wallet sent 248 ETH worth $444,000 before making a 10,856 ETH transfer worth $19.5 million to a brand-new address. The movement-activated broad crypto market interest came from an Ethereum investor who had been inactive for eight years.

When the wallet obtained its ETH during 2017 the token cost $226 each while the investment totaled $2.5 million total value at that time. According to present market rates the whale obtained an unrealized profit of about $17.5 million. The on-chain data demonstrated that Ethereum tokens were obtained from the exchanges Kraken and Gemini post-Ethereum’s strong market rally during 2017.

A whale deposited 248 $ETH($444K) into #Coinbase today after 8 years of dormancy and transferred the remaining 10,856 $ETH($19.5M) to a new wallet.

This whale bought 11,104 $ETH(cost $2.5M) at $226 in 2017 and is now sitting on a $17.5M profit.https://t.co/I4fjf3EqFL pic.twitter.com/PWTPF1qCkv

— Lookonchain (@lookonchain) April 6, 2025

Ethereum Price is Down By 15%; What Next for ETH?

The ETH price is hovering around $1,450, with a strong decrease of 15% in the past 24-hours. The Ether price witnessed a sharp decline earlier this week, dropping from levels above $1,750 to under $1,500.

The Moving Average Convergence Divergence (MACD) reflects continued bearish momentum. The MACD line is deep in the negative zone at -77.66, with the signal line at -44.94. This gap suggests sellers still dominate, even with the minor upside.

The Relative Strength Index (RSI) has climbed slightly to 19. The indicator remains in oversold territory, hinting at extreme market pressure. 

The Ethereum’s next significant support lies near $1,200, a level that was held previously during major corrections. Below that, the psychological level of $1,000 could attract attention if selling pressure intensifies. Conversely, any sustained push above $1,600 could invalidate the current trend. However, strong rejection near that zone makes it a critical hurdle for bulls.