Ethereum Faces Critical Support Zone Amid Market Pressures

March 17, 2025

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3.56 Million ETH Worth at Current Support Zone

Ethereum’s current support zone plays a pivotal role in its price action, with 3.56 million ETH acquired within $1,843 to $1,900.

“Approximately 3.56 million ETH was acquired between $1,843 and $1,900, forming a strong support zone.” — IntoTheBlock

Vitalik Buterin comments on long-term growth, emphasizing developer activity.

With a historical precedent for resilience, short-term fluctuations drive market sentiment. ETH exchange reserves at a multi-year low display strong accumulation characteristics. Expert opinions hint at a firm foundational backing despite volatility.

Exchange Reserves Indicate Long-Term Interest at 18.8 Million

The potential breakdown below $1,843 poses risks, including increased investor selling. Exchange reserves, at 18.8 million, show long-term interest.

“ETH exchange reserves have declined to 18.8 million, a multi-year low, indicating long-term accumulation.” — CoinAlyze

Ethereum price at $1,904 suggests market consolidation. Financial implications reveal weakening demand could spur a deeper market correction. On-chain data suggests 46% of addresses remain profitable, the lowest since 2022.

“The percentage of ETH addresses in profit has dropped to 46%, the lowest since December 2022.” — CoinAlyze

Lex Sokolin asserts long-term fundamentals as robust.

Past Dips Under $2,000 Suggest Possible Rebound

Ethereum last dipped under $2,000 in 2023, subsequently rallying to $4,000 by mid-year.

“The Ethereum ecosystem continues to grow and evolve. Short-term price movements don’t reflect the long-term value proposition and developer activity.” — Vitalik Buterin

Similar patterns are crucial for traders gauging support zones. ConsenSys economists highlight scalability and growing real-world utility in backing the asset’s value. Expert analysis underscores the importance of the current price shaping Ethereum’s potential trajectory. Increased utility could stabilize Ethereum’s price, while historical trends suggest a potential rebound following such corrections. Monitoring remains crucial for stakeholders.

Thane Morrison

Thane Morrison is a diligent crypto news author and keen blockchain and digital finance enthusiast. He writes insightfully correct engaging content on Bitcoin, altcoins, DeFi, and NFTs to help readers understand how this relentless, changing world works. Simplification and empowerment are what he really stands for and enables readers to keep their heads in the game when making vital decisions in such a demanding space.