Ethereum (ETH) has shown unexpected resilience over the past 24 hours, defying recent weakness and consolidation. This rally can be attributed to the attrition of the decline, as sellers struggle to push prices lower. After a long period of stagnation, we are now seeing renewed strength – with the key question remaining: can Ethereum maintain this momentum?
As we have repeatedly emphasized, the $2,000 level is a crucial battleground for rising investors. A decisive breakout and consolidation above this area could signal the beginning of a much larger upward movement, which could open the door to further gains.
However, all eyes are on the Federal Open Market Committee’s (FOMC) announcement later in the day, which is expected to introduce significant market volatility. With bulls and bears entangled in a struggle at this important psychological level, the coming hours may see sharp price movements. The outcome of today’s events is likely to shape the short-term course of Ethereum – will the bulls dominate the market, or will the bears regain control? Follow Us.
Bitcoin has shown resilience over the past twenty-four hours, as optimists have tried to regain control and push prices higher. However, with the FOMC’s impending announcement casting a shadow over global markets, it is unlikely to experience significant volatility until a decision is made. Traders are keeping a close eye on the impact on the US dollar – if the dollar weakens after the announcement, Bitcoin could gain greater bullish momentum.
From a technical perspective, the main resistance stands at $85K, a crucial level, which, if breached, could pave the way for a rush towards the $90K area. On the downside, on the downside, the $78K level formed a strong support level, setting the lower end of the current range.
Ethereum ETFs see outflows
Recent market analyses have revealed that the Ethereum Spot ETF has seen significant outflows, reflecting a marked decline in investor interest. Nearly 49,000 Ethereum left the fund in just 48 hours, confirming the increasingly negative outlook for Ethereum’s price in the short term.
This trend of ongoing outflows indicates investors’ lack of confidence in Ethereum’s ability to recover quickly. Although occasional inflows occurred, they were not enough to override the ongoing outflows, creating a prevailing sense of uncertainty throughout the market.
Moreover, several technical indicators indicate that the price of Ethereum may face additional headwinds. The Bollinger Bands are currently approaching a pressure point, a point that historically portends increased volatility. Observations suggest that when price movements occur below baseline during these pressures, they are often followed by subsequent price declines. This pattern increases the risk that Ethereum will face difficulty in maintaining its current trading level, and may even face significant downward pressure in the near future.
Ethereum price is holding
Over the past month, Ethereum has seen a significant decline of 33%, especially with its value depreciating at the end of February and the beginning of March. At the moment, the current Ethereum trading price of $1,936 is hovering above the critical support level of $1,862.
If the prevailing downtrend continues, Ethereum could breach this level, which could push the price to $1,745. This decline would not only represent a significant decline, but could also mark a 17-month low, testing the strength of market confidence.
Despite the bearish landscape, there is still a glimmer of hope for Ethereum’s recovery, especially with Pictra’s expected upgrade.
Ethereum dominates stable coin market and faces challenges
The Block Data and Insights has revealed that Ethereum remains the preferred blockchain platform for stable coin activity. Data on the chain also showed that Ethereum hosts $35 billion of USDC stable coins and $67 billion of USDT..
Dune Analytics confirms that the stable coin ecosystem will see a significant expansion in 2024, with total supply increasing by 63% from $138 billion to $225 billion. The volume of monthly stable coin transfers increased from $1.9 trillion in February 2024 to $4.1 trillion in February 2025.
Ethereum strengthens its dominance in the stable coin market
Data on the chain showed that Ethereum’s stable coin ecosystem continued to show remarkable resilience and utility.
The data indicated that the volume of stable coins maintained strong momentum, averaging around $800 billion per month over the past four months. Active titles moving stable coins have seen a steady rise, reaching 600,000 in one week.
USDC and USDT were the most dominant stable coins, worth $740 billion out of February’s total trading volume of $850 billion. Dune Analytics also noted that the concentration of both stable coins reflects the market’s preference for established stable coin options with a proven track record.
Block’s Data and Insights Bulletin revealed that Ethereum remains the preferred blockchain platform for stablecoin activity. The data indicated that Ethereum hosts $35 billion of USDC and $67 billion of USDT. The company confirmed that ETH’s It highlighted its role as a key settlement layer for stable coin transactions despite the proliferation of alternative blockchain platforms.
. Critical support levels of $1,862 and $1,745 will be crucial in determining whether Ethereum can stabilize its price or continue to fall. While the potential recovery through upcoming upgrades exists, the immediate focus remains on addressing current market challenges.
