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Ethereum faces 46% yearly loss – A steeper decline is possible IF…
By Gladys Makena
Published on April 7, 2025 | 3min read
The crypto market has been in a state of turmoil over the past year, with Ethereum (ETH) being one of the hardest hit. As the bearish sentiments persist amidst low demand and rising sell pressure, ETH is at risk of dropping to October 2023 levels around $1,657.
Over the past month, Ethereum has experienced strong downward momentum, leading to a whopping 46% decline in value over the past year. The downward trend shows no signs of recovery, and investors are increasingly bearish on the altcoin. This sentiment is reflected in the recent breakdown in ETH’s price chart.
The cryptocurrency has broken down into a symmetrical triangle pattern, indicating further losses could be on the horizon. Furthermore, a bearish crossover on the Stochastic RSI and an RVGI signaling a bearish trend only adds fuel to this fire.
ETH’s current market position suggests that the altcoin is at risk of further downside. If the support level at $1,757 were to break, Ethereum could potentially plummet towards October 2023 levels around $1,657.
It takes only a daily close above $1,800 for a bullish reversal and a potential turnaround in ETH’s fortunes. However, given the persistent bearish sentiments and lack of buying activity, it seems unlikely that this will occur anytime soon.
Source: TradingView
Source: https://ambcrypto.com/ethereum-faces-46-yearly-loss-a-steeper-decline-is-possible-if/
