Ether must reclaim the “macro” threshold above the $2,200 level to gather additional upward momentum as cryptocurrency markets continue to face pressures from global macroeconomic apprehensions at least until early April.
According to TradingView data, the Ethereum (ETH) price has declined over 51% during its three-month downward trend after reaching above $4,100 on December 16, 2024.
For a rebound from this downward trend, the Ethereum price needs to regain the “macro range” above $2,200, noted popular crypto analyst Rekt Capital in a March 19 X post:
“If the price can evoke a strong enough response here, then #ETH will be able to reclaim the $2,196-$3,900 Macro Range (black).”
In the meantime, Ethereum’s open interest surged to a fresh all-time peak on March 21, boosting investor optimism that major traders are prepping for a surge past $2,400.
Despite favorable developments in crypto regulations, such as the US Securities and Exchange Commission retracting the lawsuit against Ripple, Ether is still struggling to gain substantial momentum.
Several analysts predict that both traditional and cryptocurrency markets will experience pressures from global trade war worries until at least early April, when nations may achieve a consensus on the retaliatory tariffs.
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ETH whales the only buyers: Nansen analyst
While some crypto traders frequently hold large investors, or whales, accountable for market declines, these participants are merely “navigating the market in any direction,” according to Nicolai Sondergaard, a research analyst at Nansen.
The analyst stated during Cointelegraph’s Chainreaction daily X show on March 21:
“The ETH whales holding between 10k to 100k have actually been accumulating ETH, while the rest have been selling off.”
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The quantity of addresses containing at least $100,000 in Ethereum started to increase at the start of March, rising from just above 70,000 on March 10 to over 75,000 by March 22, as per Glassnode data.
In contrast, there were more than 146,000 wallets with over $100,000 in ETH balance on December 8, when Ether’s price was trading above $4,000.
Despite the likelihood of short-term volatility, investors remain hopeful for the remainder of 2025, with VanEck forecasting a $6,000 cycle peak for Ether’s price and a $180,000 Bitcoin (BTC) price during 2025.
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