隨著看跌模式的加劇，以太坊再次下降到2000美元以下，但鯨魚和堆放數據提供了混合的信號。

以太坊（ETH）於3月23日再次下跌2000美元，在關鍵水平上測試了投資者的信心。

Ethereum (ETH) fell below $2,000 again on Thursday, testing critical levels for support as technical indicators offered mixed signals on the crypto’s short-term prospects.

以太坊（ETH）在周四再次下跌低於2,000美元，測試了對支持的關鍵水平，因為技術指標在加密貨幣的短期前景上提供了混合信號。

What Happened: The second-largest cryptocurrency dipped to an intraday low of $1,952 by 08:30 ET (12:30 GMT), a level last seen on March 9 during a brief dip.

發生的事情是：第二大加密貨幣降至08:30 ET（格林尼治標準時間12:30）的盤中低點，這是3月9日在短暫下降中的最後一個水平。

At press time, ETH traded at $1,988, still down 13% for the week. The altcoin had a market cap of roughly $240 billion.

發稿時，ETH的交易價格為1,988美元，一周仍下跌13％。 Altcoin的市值約為2400億美元。

Technical analyst MadWhale identified $2,200 as a key resistance zone for ETH. That level coincides with the upper boundary of a descending channel, a pattern that usually signals bearish continuation.

技術分析師Madwhale將2,200美元確定為ETH的關鍵阻力區。該級別與降頻道的上邊界相吻合，這種模式通常表示看跌的延續。

If ETH fails to break above the channel, it could drop 13% to test the $1,700 support level again, last seen in early March, the analyst noted.

分析師指出，如果ETH未能突破頻道，則可能會下降13％，以再次測試3月初最後一次出現的1,700美元的支持水平。

“Strong resistance at the channel and prior highs around $2,200. If we fail to close above the channel, we could see a 13% drop from here, potentially retesting the $1,700 support.”

“頻道的強烈阻力和先前的高價約為2,200美元。如果我們未能在頻道上方關閉，我們可能會看到13％的下降，從這裡重新測試1,700美元的支持。”

(Image: MadWhale/X)

（圖片：madwhale/x）

However, the MACD indicator suggests that bearish momentum might be slowing. A bullish crossover could emerge, leaving room for a short-term rebound.

但是，MACD指標表明看跌勢頭可能會放慢。看漲的跨界可能會出現，為短期反彈留出了空間。

Investors Deposited $220M in ETH for Staking

投資者以股票存入2.2億美元的資產

Long-term holders appear to be unfazed by the recent price pressure. According to Beaconcha.in, investors deposited 110,000 ETH—worth over $220 million—into Ethereum 2.0 staking contracts between Monday and Thursday.

長期持有人似乎對最近的價格壓力並不感到震驚。根據Beatoncha.in的數據，投資者將110,000 ETH的資金存入了超過2.2億美元，即以太坊2.0在周一至週四之間簽訂了合同。

The total staked supply rose from 33.72 million ETH to 33.83 million ETH within 48 hours. This removed a portion of ETH from circulation, easing short-term sell pressure and helping to stabilize the price around the $1,950 level.

在48小時內，固定的供應總量從3,372萬ETH增至3383萬ETH。這使一部分ETH從流通中消除了，緩解了短期賣出壓力，並有助於穩定價格約為1,950美元的水平。

Analyst Patron viewed the uptick as a rotation into yield-generating assets amid growing market caution. Rather than indicating disinterest in ETH, the move suggests that some investors are opting for passive income while avoiding short-term volatility.

分析師的讚助人認為，由於市場的謹慎，這一速度是旋轉到產生產生資產的。此舉並沒有表明對ETH不感興趣，而是表明一些投資者選擇被動收入，同時避免短期波動。

However, the sharp 37.37% drop in trading volume over the same period raises concerns. The imbalance between increased staking and decreasing liquidity highlights the fragility of Ethereum’s current support zone.

但是，同一時期的交易量下降了37.37％，這引起了人們的擔憂。增加的積累和降低流動性之間的失衡突出了以太坊當前支撐區的脆弱性。

Whales Seize the Dip

鯨魚抓住蘸醬

Large investors appear to be buying the dip. According to analyst Ali Martinez, whales bought more than 120,000 ETH—worth roughly $236 billion—in the past 72 hours.

大型投資者似乎正在購買DIP。根據分析師阿里·馬丁內斯（Ali Martinez）的說法，在過去的72小時中，鯨魚購買了超過120,000 ETH（約合2360億美元）。

“That’s a move that reflects market confidence,” Martinez wrote in a post.

馬丁內斯在一篇文章中寫道：“這是反映市場信心的舉動。”

On-chain platform Lookonchain tracked a whale who had accumulated over 7,000 ETH, valued at $13.8 million. The investor reportedly moved 4,511 ETH from OKX into Aave, borrowed USDT, and bought another 2,563 ETH.

On-Chain Platform Lookonchain追踪了一條鯨魚，該鯨魚積累了7,000多個ETH，價值1,380萬美元。據報導，投資者將4,511 ETH從OKX轉移到AAVE，借入了USDT，併購買了2563 ETH。

Crypto analyst and trader MerlijnTrader urged investors not to panic, calling the current market setup familiar.

加密分析師和交易者Merlijntrader敦促投資者不要驚慌，稱當前的市場設置熟悉。

“Don’t sell your $ETH at the bottom! Ethereum’s pattern is repeating itself—just like after previous crashes,” he posted.

他說：“不要在底部出售您的$ eth！以太坊的模式正在重複自己，就像以前崩潰之後一樣。”

Meanwhile, Crypto Goos reported that ETH reserves on exchanges hit an all-time low, raising the potential for a supply squeeze.

同時，Crypto Goos報導說，ETH儲備金的交流儲備率達到了歷史最低水平，從而增加了供應擠壓的可能性。

Falling Fees and User Migration Raise Longer-Term Concerns

費用和用戶遷移引起了長期關注

While whales and stakers have offered some short-term support, Ethereum’s broader network activity continues to weaken.

儘管鯨魚和Stakers提供了一些短期支持，但以太坊的更廣泛的網絡活動仍在削弱。

According to protocol data, average transaction fees have dropped by 50% over the past week as on-chain engagement and smart contract usage decline.

根據協議數據，隨著鏈上參與和智能合同使用率下降，過去一周的平均交易費用下降了50％。

Layer 2 upgrades have done little to stop users from moving to cheaper, faster chains like Solana and Avalanche. This shift continues to erode Ethereum’s share in decentralized applications. Developers are working on updates like Pectra and Hoodi, but near-term demand remains low.

第2層升級幾乎沒有阻止用戶移動到更便宜，更快的連鎖店，例如Solana和Avalanche。這種轉變繼續侵蝕以太坊在分散應用程序中的份額。開發人員正在研究Pectra和Hoodi等更新，但近期需求仍然很低。