Ethereum Price Struggles Below the $2,000 Mark – Analyst Eyes a Breakout to $800

Highlights:

• Ethereum price struggles below the $2000 mark as trading volume plunges. 
• If the bearish momentum persists, a crypto analyst highlights a potential breakout towards the $800 mark. 
• If the ETH price holds above the $1,825 level, a rally toward $2625 could be imminent.

The Ethereum price is facing an intense downtrend as it struggles below the $2,000 mark. It trades at $1,884, down almost 1% as trading volume plunges 25%. Can the ETH Price recover above $2,000?

Ethereum Price Outlook

The ETH/USD daily chart shows a significant price drop, currently battling below the $2,000 mark at $1,884. The price has broken below the 50-day MA (2,625) and the 200-day MA (2,895), indicating intense selling pressure.

If the current bearish momentum continues, ETH could plunge to lower levels at the $1,754 support level, a critical price area that has historically acted as a strong buying zone. The increasing selling volume confirms bearish dominance, making a deeper correction more likely unless the bulls defend this support.

Ethereum has underperformed relative to the broader cryptocurrency recovery. Bitcoin recently exceeded the $84,000 mark, and several altcoins, including XRP, have rebounded strongly by 2%, targeting the $3 mark. However, ETH hasn’t surpassed the $2,000 mark. The unease over the Pectra network upgrade and changes within the Ethereum Foundation potentially contribute to Ethereum price volatility.

However, despite the current sell-off, ETH is still trading within a descending parallel channel, as the price has been forming higher highs and lowers within the paAltcoinsttern. If the channel support holds, we could see a potential rebound towards the next resistance at $2,244. A breach above this level could see the bulls target the 50-day MA at $2,652 and the 200-day MA 2,895. 

Ethereum price is facing a challenging road toward reclaiming $2,652 as the broader market remains under pressure. Recent price action has shown signs of exhaustion, with ETH struggling to gain enough momentum for a breakout. With trading volumes declining and sentiment leaning bearish, the path upward appears uncertain. 

Even if the Ethereum price approaches $2,652, the lack of strong buying pressure could lead to rejection, reinforcing the resistance level as a major hurdle. Crypto analyst Ali Martinex has highlighted a potential breakout towards the $800 mark if the bearish momentum persists. 

#Ethereum $ETH is breaking out, and if momentum holds, it could be on track for a move toward $800! pic.twitter.com/rCtDDAKq8r

— Ali (@ali_charts) March 13, 2025

Can ETH Bulls Regain Dominance and Rally Above $2,000?

Ethereum’s immediate future hangs in the balance, and it faces difficulty regaining vital resistance. Sustaining the $1,825 support is crucial to short-term stability. Successful bullish momentum might push it towards the $2,500 mark. Increased bullish leverage suggests traders are poised for an upward move. Maintaining stability and exploiting advantageous conditions allow Ethereum to escape its extended downtrend and reinstate a bullish trajectory.

Meanwhile, a closer look at the substantial leverage activity between long and short positions points to notable liquidity concentrations. Around the $1,825 level, a $753.76 million long liquidation support level exists across major platforms such as Binance ($507.15M), OKX ($565.21K), and Bybit ($117.68K).

Short liquidations are currently larger at $693.7M, raising the possibility of a short squeeze. With ETH’s price near $1,888, a zone of heavy leverage, price declines could trigger accelerated liquidations. Conversely, sustained bullish momentum might drive ETH past $2,000 through forced short covering. 

Traders should watch for volume spikes and price action signals around the support zone to confirm a potential reversal or breakdown. For bullish confirmation, a breakout above $2,625 is needed. This would reinforce the long-term uptrend and potentially push Ethereum’s price toward higher resistance levels at $2,895, $3,310, and $3,471.