Ethereum has taken a sharp hit over the past month, losing nearly 20.4% of its value. In just the last seven days, it has slipped another 2%, bringing its price down to $1,877.46.
The price of Ethereum has dropped significantly over the past 30 days, sliding by over 20% and now trading below a key support level of $2,000.
Macro strategist Mike McGlone raised concerns about the cryptocurrency’s decline, highlighting its potential impact on the broader financial market.
However, despite the price decrease, Ethereum’s trading volume has surged, suggesting continued interest from investors. As experts remain optimistic about the long-term potential of Ethereum, they expect the market to recover after this profit-taking phase.
Top Cryptocurrency Price Drops 20% in 30 Days
At the beginning of the month, on March 2, Ethereum was trading at $2,216.71. Since then, the cryptocurrency’s price has dropped by 15.48%.
During the last seven days alone, Ethereum's price has decreased by 2%, now trading at $1,877.46.
Many traders expected the price of Ethereum to find support at $1,900 but that level did not hold. As the price of Ethereum continues to drop, investors are now awaiting the next key support level, which is $1,000.
"Is $1,000 next for #Ethereum vs. $2,000 may guide the way for risk assets.
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