Ethereum (ETH) Price Rally Flashes Bearish Signals, Prepares to Drop Below $1500

The crypto markets have been facing a massive pullback over the past couple of days, wiping out over $200 billion. While the major tokens try to make up for the recent losses

The cryptocurrency markets have encountered a substantial setback in recent days, resulting in a collective loss of over $200 billion. As the major tokens strive to recover from the recent downturn, the Ethereum price rally is displaying bearish signals.

The price has slipped below the support line, which has provided strength to the coin for over the past few years. This move has generated strong bearish signals for the ETH price rally. The token is now poised to reach $1500 if the bulls fail to defend the crucial support levels.

Ethereum has sustained a steeper decline than Bitcoin in February, a trend that is likely to persist in March. For the first time in history, the Ethereum price has printed massive bearish candles throughout Q1.

On the other hand, Ethereum ETFs are trading at a 25% discount to their intrinsic value, and over $370 million has been withdrawn from spot ETFs in March 2025.

As the quarter draws to a close, bearish influence over the token has intensified. The ETH price recovery appears sluggish, trading below the key moving average levels, suggesting that a more descending trend is rapidly approaching.

The price of Ethereum has slipped below the 200-day MA for the first time since the 2021 bull run, signaling the onset of fresh bearish activity. In the long term, the price has dropped below the support of the decisive symmetrical triangle, and a close below the range may open the door for lower targets below $1500. The volume has seen some movement but remains in bearish territory. Additionally, the monthly RSI has declined to the level it tested during the 2022 lows.

Therefore, a substantial decline in the ETH price is anticipated as the technicals are about to cross over into bearish territory. The Ichimoku cloud and the DMI are on the verge of turning bearish, further raising bearish flags for the crypto.

Conversely, if the RSI triggers a rebound from the support as it has done before, then the price may experience some upward momentum. However, the bullish scenario is less likely as technicals are turning bearish.

As a result, the upcoming monthly close may have a significant impact on the forthcoming price action.

If the Ethereum (ETH) price manages to reclaim $2000 before the monthly close, then the second-largest token may continue to test higher targets; otherwise, a drop to $1500 appears to be imminent.