Ethereum is trading below the $1,900 level after weeks of persistent selling pressure, and signs suggest that the downside momentum could continue. Bulls lost control back in late February when ETH failed to hold the $2,500 mark — a key level that many viewed as critical for sustaining a bullish outlook. Since then, Ethereum has continued to underperform, disappointing investors who had anticipated a strong 2025 rally fueled by growing institutional interest and market optimism.
Instead, macroeconomic uncertainty, global tensions, and weakening market sentiment have weighed heavily on high-risk assets like Ethereum. Price action has remained underwhelming, with failed attempts to reclaim key resistance levels adding to bearish sentiment.
Adding to these concerns, crypto analyst Ali Martinez shared insights showing a significant decline in on-chain activity. Since late February, the number of large Ethereum transactions — typically involving whales and institutional players — has dropped significantly. This decline suggests that major market participants may be stepping back, reducing their exposure as uncertainty lingers.
Ethereum Under Pressure As Macroeconomic Fears Grow
Ethereum continues to struggle under mounting pressure as macroeconomic uncertainty and global instability ripple through financial markets. Among the most affected are high-risk, volatile assets like Ethereum, which have seen significant outflows in recent weeks. The broader market sentiment remains fragile, largely driven by US President Donald Trump’s unpredictable policy decisions and tariff threats. His administration’s economic stance has injected fresh uncertainty into global markets, pushing investors toward safer assets and away from speculative plays like ETH.
Bulls are finding it increasingly difficult to defend key support levels. After failing to hold above $2,500 in late February, Ethereum has slipped steadily lower, now trading below $1,900 — a level that once served as a critical psychological threshold. With little sign of renewed buying pressure, the risk of a continued selloff looms large.
Ali Martinez shared alarming on-chain data showing that since February 25, the number of large Ethereum transactions has dropped by 63.8%. This decline in whale activity signals that major holders may be exiting or sitting on the sidelines, reducing overall market confidence and liquidity.
As long as macroeconomic pressures persist and whales remain inactive, Ethereum is likely to remain vulnerable. Bulls must step in to stabilize price action, or risk watching ETH fall further into lower support zones. For now, the outlook remains cautious, with continued weakness likely unless sentiment shifts or broader economic clarity emerges.
ETH Trades Below $1,900 As Bulls Defend Key Support
Ethereum is currently trading around $1,880, attempting to hold above a critical support zone near $1,750 — widely seen as the last line of defense for bulls. After weeks of sustained selling pressure, ETH remains in a vulnerable position, struggling to recover lost ground. The price is now well below the weekly 200-day moving average (MA) and exponential moving average (EMA), both sitting near the $2,500 level, which highlights the broader weakness in Ethereum’s market structure.
As long as ETH remains below these long-term trend indicators, the overall outlook stays bearish. Bulls must step in with conviction to prevent a deeper breakdown and shift momentum back in their favor. The most immediate priority is maintaining support above $1,800, which serves as a psychological and technical level of strength.
To confirm a recovery, Ethereum must also push back above the $2,000 mark in the near term. A break above this level would help restore investor confidence and could open the door for a move toward reclaiming the 200-week averages. Until then, Ethereum remains in a precarious position, and failure to defend current levels could trigger a deeper correction in the sessions ahead.
Featured image from Dall-E, chart from TradingView
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