Ethereum price on track for 7th straight daily decline as macro risks drive sell-off
Ethereum price has been locked in a prolonged downtrend since December 2024, with bearish momentum accelerating in recent weeks.
As of March 31, ETH is on track for a seventh consecutive daily decline, trading near $1,800 during the European session. This positions the cryptocurrency closer to the $1,750 level, a price last seen in October 2023. With ETH down 20% in March and recording a staggering 46% loss in the first quarter of 2025, investor sentiment remains weak.
Ethereum's continued weakness is largely driven by worsening macroeconomic conditions. Trade war fears and rising geopolitical tensions have spurred risk aversion across global markets, prompting investors to move away from speculative assets, including cryptocurrencies. With no clear signs of reversal, Ethereum's bearish trend has remained intact since January, reflecting sustained selling pressure.
Ethereum price outlook: Next major support lies between $1,200–$1,300
ETH price dynamics (March 2025). Source: Google Trend Data
Technical indicators continue to point toward further losses. The daily Relative Strength Index (RSI), which has been in bearish territory since January, continues to indicate persistent selling pressure. Despite Ethereum’s overall decline since January, its daily RSI is not yet in oversold conditions, suggesting that the downtrend could extend further.
Given the macroeconomic pressures mounting and technicals favoring further declines, Ethereum remains vulnerable to deeper losses in the coming weeks. If Ethereum fails to hold above $1750, the next significant support zone could be between $1200 and $1300 an area that previously served as a strong accumulation base during past market cycles. On the upside, any recovery would need to reclaim $2,000 to challenge stronger resistance levels.
Retail interest in Ethereum has waned, with sentiment far below its 2017 and 2021 peaks. ETH broke below $2,000, slipping over 4% to a 10-day low near $1,900.
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