以太坊（ETH）价格从12月的最高水平崩溃了52％以上

以太坊（ETH）在12月达到了4,105美元的峰值，并在3月20日的交易价格为1,970美元。这次52％的崩溃使其成为市场上表现最差的蓝筹硬币之一。

Ethereum (ETH) price has crashed by over 52% from its highest level in December, and technicals and on-chain metrics point to more downside in the near term.

以太坊（ETH）的价格从12月的最高水平开始崩溃了52％以上，而且技术和链度指标在短期内指出了更多的下跌。

Ethereum (ETH) peaked at $4,105 in December and was trading at $1,970 on March 20. This 52% crash makes it one of the worst-performing blue-chip coins in the market.

以太坊（ETH）在12月达到了4,105美元的峰值，并在3月20日的交易价格为1,970美元。这次52％的崩溃使其成为市场上表现最差的蓝筹硬币之一。

Ether has crashed as concerns about its future remain. Just this week, Standard Chartered analysts downgraded their estimate by 60% from $10,000 to $4,000, citing the rising competition from layer-1 and layer-2 networks that have affected its revenue growth.

Ether崩溃了，因为仍然对其未来的担忧。就在本周，标准特许分析师将其估计值从10,000美元下调至4,000美元，理由是从1层和第2层网络的竞争不断上升，这些网络影响了其收入增长。

Layer-2 networks on Ethereum, like Coinbase's Base, Arbitrum, and Optimism, have drawn more users to their ecosystems because of their lower fees. For example, DeFi Llama's data shows that DEX Ethereum protocols handled over $9.8 billion in volume in the last seven days.

以太坊上的第2层网络，例如Coinbase的基础，仲裁和乐观，由于费用较低，因此吸引了更多用户进入其生态系统。例如，Defi Llama的数据表明，DEX以太坊协议在过去7天内处理了超过98亿美元的数量。

Arbitrum handled $2.87 billion, while Base had $2.8 billion. In the past, this volume would have been handled on Ethereum's mainnet network.

仲裁处理了28.7亿美元，而基地有28亿美元。过去，该卷本来可以在以太坊的主网网络上处理。

Ethereum is also seeing intensified competition from layer-1 networks like Solana (SOL) and BNB Chain. BNB Smart Chain's DEX protocols handled DEX volume worth over $13 billion in the last seven days.

以太坊还看到来自Solana（Sol）和BNB链等层网络的竞争加剧。 BNB Smart Chain的DEX协议在过去的七天中处理了价值超过130亿美元的DEX量。

Ethereum is also not expected to be a major beneficiary of emerging technologies like Real World Asset tokenization because of its higher fees and slower speed. Instead, developers may opt to use other scalable and cheaper networks like Mantra (OM) and BNB Chain.

以太坊也不预计将成为新兴技术的主要受益者，例如现实世界资产令牌化，因为其费用较高和速度较慢。相反，开发人员可以选择使用其他可扩展和便宜的网络，例如Mantra（OM）和BNB链。

Ethereum has weak on-chain metrics

以太坊的链链指标较弱

More data shows that the number of active addresses on Ethereum has declined in the past few months. The chart below from Santiment shows that Ethereum had 461,000 active addresses on Wednesday, down from 717,000 earlier this year.

更多数据显示，过去几个月，以太坊上的活动地址数量有所下降。下面的图表显示，以太坊在周三早些时候有461,000个活动地址，低于今年早些时候的717,000。

Another notable data point is Ethereum's realized cap HODL wave, which is shown in blue. It has crashed to the lowest point since August last year, a sign that long-term holders have started to sell.

另一个值得注意的数据点是以太坊已实现的帽hodl波，该波浪以蓝色显示。自去年8月以来，它已经撞到了最低点，这表明长期持有人已经开始出售。

The 365-day mean dollar invested age or MDIA, which calculates the duration that each coin has stayed in an address and all the money used to buy it, has dropped to its September lows.

365天的平均美元投资年龄或MDIA计算了每个硬币一直在地址中的持续时间，以及用于购买该硬币的所有资金，已下降到9月的低点。

Ethereum price technical analysis

以太坊价格技术分析

The daily chart shows that the ETH price has been in a strong downward trend over the past few months. This drop started after it formed a triple-top pattern at $4,000, with the neckline at $2,120.

每日图表显示，在过去的几个月中，ETH价格一直处于强劲的下降趋势。这种下降始于它以4,000美元的价格形成三层图案，其领口为2,120美元。

Ether then formed a death cross pattern as the 50-day and 200-day moving averages crossed each other. This cross often leads to more downside momentum. Also, popular oscillators like the Relative Strength Index and Percentage Price Oscillator have dropped.

然后，随着50天和200天的移动平均值相互交叉，以太形成了死亡交叉模式。这个十字架通常会导致更多的下行势头。此外，流行的振荡器（例如相对强度指数和百分比价格振荡器）也下降了。

Therefore, the coin will likely continue falling as sellers target the psychological point at $1,500, which is about 25% below the current level.

因此，由于卖方将硬币以1,500美元的价格定位为卖方，这可能会继续下降，这比当前水平低约25％。