Ethereum Price Prediction – Why ETH Could Drop Below $1800

Highlights:

• Ethereum is trending toward $1800 after losing critical support level
• Correction triggered by selloff across all risky asset classes, including stocks
• Fears of a global recession could add to the selloff

Ethereum, like the rest of the market, is in a steep decline. It is currently trading at $1919, an 8.77% drop over the past 24 hours. However, Ethereum’s trading volumes have shot up by 69% to $39.24 billion. This could be an indicator that investors are actively selling their Ethereum positions, which could trigger further price declines.

Ethereum Selloff Triggered By Bitcoin Weakness

Ethereum’s plunge can be attributed to the unrelenting Bitcoin correction, which is bleeding out altcoins. However, it is not only Bitcoin driving the selloff. The broader financial markets are also weak, which points to fears of a recession.

All major indices are in the red, with the S&P 500 down 3.1%, alongside the likes of Nasdaq and Dow Jones. The story is the same in the global markets, further adding to the Ethereum selloff. The Nikkei 225 and Hang Seng futures are signaling potential further losses in Asia. If the selloff continues in the financial markets, it could add to the pressure in the cryptocurrency market, including Ethereum.

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Camp #1) Trump is a maniac, doesn’t understand economics and is emotionally tariffing the world into global recession

Camp #2) Trump is carefully using tariffs to pare back economic growth and force the Fed to lower rates pic.twitter.com/vnQePNk695

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Ethereum’s DeFi Liquidations Could Trigger More Selloffs

Ethereum’s selloff could also be accelerated by the selloff in its DeFi ecosystem. Ethereum’s price decrease is expected to make approximately $336 million worth of Ethereum-based assets vulnerable to liquidation if the price goes down another 20%. Among the many over-collateralized loans, one is on the verge of being liquidated.

WHALE WATCH: AS $ETH DROPPED BELOW $1,800, THIS WHALE'S 67,675 $ETH($121.8M) IS NOW BEING LIQUIDATED.

DESPITE DEPOSITING 2,000 $ETH($3.73M) AND REPAYING 1.54M $DAI TO LOWER THE LIQUIDATION PRICE TO $1,836.43, THE PRICE STILL DROPPED BELOW HIS THRESHOLD

Source: @lookonchain https://t.co/9ygSaQqyFU pic.twitter.com/MkLmzmQX8P

— Mario Nawfal’s Roundtable (@RoundtableSpace) March 11, 2025

The trader had borrowed $74 million DAI by block swapping 65,680 ETH collateralized for roughly $130 million. When Ethereum dips below $1,820, the loan could get liquidated and pressure on Ethereum. This is only one of many DeFi loans on the verge of liquidation and could add to Ethereum’s selling pressure in the short term.

Some Hope for Ethereum

Despite all the fear in the markets, there is some hope for an Ethereum rebound. Lookonchain data shows that $1.8B worth of ETH has been withdrawn from exchanges. This means that Ethereum holders are increasingly taking a long-term approach by taking their Ethereum into cold storage. This is a big deal as it could ease the pressure on Ethereum’s price until the macro-environment becomes more favorable to risky assets.

Even more good news for Ethereum is that Coinbase is set to start 24/7 Ethereum derivatives trading. Coinbase is planning to implement round-the-clock access to Bitcoin and Ethereum Futures Trading. This could bolster the liquidity and trading volume of the crypto market in the US. It could also give access to traders who tend to place trades after official business hours. This may boost the price of Ethereum by enabling broader access to the market.

24/7 trading access to Bitcoin & Ethereum futures is coming to the US 🇺🇲.

No market hours. No waiting. No missed opportunities.

And this is just the beginning. US perpetual futures are next. pic.twitter.com/PCsRG1EdVL

— Coinbase 🛡️ (@coinbase) March 10, 2025

Technical Analysis – Ethereum Price Loses Critical Support

From the charts, the odds are that Ethereum is headed much lower. The price has lost critical inter-day support at $1994.9, which could see it drop to $1800, now a critical psychological support level.

However, in the event of a rebound, the key level to watch would be $1994.9, now resistance. A rally through this price level could see Ethereum rally to around $2500 in the short term. However, with fears of a recession rising, the odds of further correction are higher in the short term.

Recap

With Ethereum now firmly under bear control, investors are keen on the $1800 price level. Bulls only hope Ethereum rebounds strongly to make $1800 solid support. Moreover, with the weak macroeconomic environment, Ethereum could see a drop below $1800 and a drop to prices as low as $1300 in the short to medium term.