以太坊（ETH）價格未能超過2,000美元的電阻

以太坊（ETH）一直在努力維持其在2025年4月初的恢復勢頭，價格未能超過2,000美元的心理障礙。

Ethereum (ETH) struggled to maintain its recovery momentum in early April 2025 despite attempts to rise above the $2,000 psychological barrier. The second-largest cryptocurrency encountered significant headwinds in recent months, resulting in a sharp decline during the first quarter of the year.

儘管試圖超越2,000美元的心理障礙，但以太坊（ETH）仍在2025年4月上旬努力維持其恢復勢頭。近幾個月來，第二大加密貨幣遇到了嚴重的逆風，導致一年中第一季度的急劇下降。

After attempting to recover above the $1,880 level, ETH faced rejection and formed a high at $1,955 before trimming most gains and falling back below $1,850.

在試圖恢復高於$ 1,880的水平之後，ETH面臨拒絕，並以1,955美元的價格造成了高位，然後修剪大部分收益並降至1,850美元以下。

Technical indicators showed ETH trading below the 100-hourly Simple Moving Average. A key bullish trend line with support at $1,865 on the hourly chart was also broken, suggesting continued bearish pressure.

技術指標顯示ETH交易低於100小時的簡單移動平均線。每小時圖表上的主要看漲趨勢線和支撐在1,865美元中也被打破了，這表明持續的看跌壓力。

On the upside, Ethereum faced resistance near $1,850, with the next key hurdle at $1,865. The major resistance level sat at $1,920, and clearing this could potentially push the price toward $1,950.

從好的方面來說，以太坊的阻力接近$ 1,850，下一個鑰匙障礙為1,865美元。主要阻力水平為1,920美元，清除這可能會將價格推向1,950美元。

Q1 Performance Concerns

Q1績效問題

The first quarter of 2025 proved particularly challenging for Ethereum. The cryptocurrency ended Q1 down 45%, according to Coinglass data, making it the third-worst quarter for ETH since 2016.

事實證明，2025年第一季度對以太坊特別具有挑戰性。根據Coinglass的數據，加密貨幣的結局下降了45％，這使其成為ETH自2016年以來第三季度。

This poor performance contributed to approximately $170 billion in market value being erased. Institutional investors responded cautiously, with Ethereum exchange-traded funds losing $403 million in March alone.

這種糟糕的表現貢獻了大約1700億美元的市場價值。機構投資者謹慎地做出了回應，僅三月份，以太坊交換貿易資金就會損失4.03億美元。

Standard Chartered analysts have since reduced their year-end ETH price target from $10,000 to $4,000. This adjustment reflects growing competition from Ethereum’s layer-2 solutions, which have attracted users seeking lower transaction fees.

此後，標準特許分析師將其年終ETH目標目標從10,000美元降低到4,000美元。這種調整反映了以太坊的第二層解決方案的競爭不斷增長，這些解決方案吸引了尋求較低交易費用的用戶。

Network activity metrics further highlight ETH’s struggles. The fee generation has fallen dramatically from $142 million in January to just $21 million in March.

網絡活動指標進一步強調了ETH的掙扎。收費的產生急劇下降了，從一月份的1.42億美元增加到3月的2100萬美元。

Network Stats and Market Position

網絡統計和市場位置

Despite price challenges, Ethereum achieved a notable milestone in March by reclaiming the top position in decentralized exchange (DEX) trading volume for the first time since September 2024.

儘管有價格挑戰，以來，以太坊在3月取得了一個顯著的里程碑，這是自2024年9月以來首次收回分散交易所（DEX）交易量的最高位置。

Ethereum-based DEXs processed $64 billion in spot trading, outperforming Solana’s $52 billion and BSC’s $44 billion, according to DefiLlama data. Overall market activity has slowed across the board. DEX trading volume decreased from $86 billion in January to $85 billion in March.

根據Defillama的數據，總部位於以太坊的DEXS的現貨交易經過了640億美元，表現優於Solana的520億美元和BSC的440億美元。整體市場活動都放緩了。 DEX交易量從1月份的860億美元減少到3月的850億美元。

Total value locked (TVL) also declined from $67 billion to $49 billion during the same period. The network’s burn rate has reached its lowest level since August 2021. Data from Ultrasound Money shows just 53 ETH burned daily last week, and Ethereum’s total supply has grown 3% since the EIP-1559 upgrade.

在同一時期，總價值鎖定（TVL）也從670億美元下降到490億美元。自2021年8月以來，該網絡的燃燒率已達到其最低水平。超聲貨幣的數據顯示，上週每天僅53張ETH燃燒，並且以太坊的總供應量增長了3％以來EIP-1559升級以來。

Long-Term Potential Remains

長期潛力仍然存在

While current market conditions appear challenging, Ethereum’s long-term potential shouldn’t be overlooked. The network continues to lead in real-world asset (RWA) tokenization, controlling 54% of this market with $5 billion in tokenized assets.

儘管當前的市場狀況似乎具有挑戰性，但以太坊的長期潛力不應被忽略。該網絡繼續領導現實世界中的資產（RWA）令牌化，以50億美元的標記資產控制了54％的市場。

The RWA sector is projected to become a $16 trillion industry by 2030, potentially driving renewed interest in Ethereum. BlackRock CEO Larry Fink has emphasized tokenization’s potential, predicting that all assets will eventually have on-chain representations.

RWA部門預計到2030年將成為16萬億美元的行業，可能會引起人們對以太坊的新興趣。 BlackRock首席執行官拉里·芬克（Larry Fink）強調了令牌化的潛力，預測所有資產最終都將具有鏈上的代表。

Stablecoin holdings on Ethereum are approaching an all-time high of $124.5 billion. The network remains the undisputed leader in decentralized finance with $49 billion in TVL.

對以太坊的Stablecoin持有量的歷史最高額為1,245億美元。該網絡仍然是分散融資中無可爭議的領導者，TVL的490億美元。

Ethereum could also benefit from staking-enabled ETFs. Both the New York Stock Exchange and Chicago Board Options Exchange have filed for staking in Ethereum ETFs with the Securities and Exchange Commission.

以太坊也可以從啟用均值的ETF中受益。紐約證券交易所和芝加哥董事會期權交易所都向美國證券交易委員會申請了以太坊ETF的股份。

The market’s sentiment could shift quickly with positive developments. The Trump family’s investment in ETH through World Liberty Financial and Eric Trump’s public support for Ethereum may provide additional momentum in the future.

市場的情緒可能會隨著積極的發展而迅速轉移。特朗普家族通過世界自由金融對ETH的投資和埃里克·特朗普對以太坊的公眾支持可能會在未來提供額外的勢頭。

For now, both professional traders and retail investors remain cautious about Ethereum’s price outlook, with derivatives data showing little confidence in a strong recovery in the near term.

目前，專業貿易商和散戶投資者對以太坊的價格前景保持謹慎，衍生品數據幾乎沒有信心在短期內恢復強勁。