Ethereum is experiencing a significant downturn, reaching $1755, a decline of over 11% within the last 24 hours. Let's break down the key factors contributing to this drop and analyze the ETH/USDT chart for deeper insights.
Macroeconomic Pressures and Market Sentiment
The crypto market is reeling from global economic uncertainty, primarily triggered by the recent tariffs imposed by U.S. President Donald Trump: 25% on goods from Mexico and Canada, and 10% on Chinese imports. These measures, enacted in early March 2025, have sparked fears of a global trade war. In addition, the market has faced significant liquidations, with data showing over $240 million worth of ETH positions wiped out, accelerating Ethereum’s price drop.
Technical Analysis: Unpacking the ETH/USDT Chart
From a technical perspective, the chart shows ETH’s long-term trend and recent decline. Ethereum’s recovery began in 2023, reaching $3900 in early 2025. However, further analysis reveals a bearish trend with critical points confirming the bearish bias.
Conclusion and Outlook
In conclusion, Ethereum remains under pressure due to macroeconomic factors and market sentiment. Recovery is possible, but requires improvement in external economic conditions.
Ethereum is under significant pressure amid current economic conditions and market dynamics. Recovery is possible but requires improvements in external economic factors.
