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As shown in the ETH/USD chart today, 11 March, Ethereum’s price dropped below $1,800 for the first time since autumn 2023. However:
→ the daily candle closed near its highs;
→ if the bearish candle on 14 March was an attempt to resume the downtrend, it proved unsuccessful.
Thus, we observe:
→ Ethereum’s price fluctuating around $1,880 with no signs of a renewed downtrend;
→ indications that the market has reached a temporary supply-demand equilibrium—suggesting price consolidation. It seems that selling pressure has weakened.
What could happen next?
Technical Analysis of the ETH/USD Chart
To assess ETH/USD price movements in a broader perspective over the past year:
→ the red channel illustrates Ethereum’s price dynamics;
→ blue markers highlight key interaction points between the price and channel lines (boundaries and median), reinforcing the channel’s relevance.
Applying the theory of cyclical fluctuations and market pendulum dynamics—popularised by Howard Marks in Mastering the Market Cycle—we can assume:
→ when ETH surged above the channel’s upper boundary in December 2024, driven partly by optimism surrounding Trump’s election victory, the market pendulum accumulated significant energy for the next movement (which appears to be the decline seen since early 2025);
→ now, the pendulum is nearing its lower point (where an asset’s price falls below its intrinsic value). Therefore, the next movement could be an upward shift towards the median, which currently sits around $2,500.
FXOpen offers the world's most popular cryptocurrency CFDs*, including Bitcoin and Ethereum. Floating spreads, 1:2 leverage — at your service. Open your trading account now or learn more about crypto CFD trading with FXOpen.
*Important: At FXOpen UK, Cryptocurrency trading via CFDs is only available to our Professional clients. They are not available for trading by Retail clients. To find out more information about how this may affect you, please get in touch with our team.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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