以太坊（ETH）价格未能超过2,000美元的电阻

以太坊（ETH）一直在努力维持其在2025年4月初的恢复势头，价格未能超过2,000美元的心理障碍。

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.

尽管试图超越2,000美元的心理障碍，但以太坊（ETH）仍在2025年4月上旬努力维持其恢复势头。近几个月来，第二大加密货币遇到了严重的逆风，导致一年中第一季度的急剧下降。

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.

在试图恢复高于$ 1,880的水平之后，ETH面临拒绝，并以1,955美元的价格造成了高位，然后修剪大部分收益并降至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.

技术指标显示ETH交易低于100小时的简单移动平均线。每小时图表上的主要看涨趋势线和支撑在1,865美元中也被打破了，这表明持续的看跌压力。

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.

从好的方面来说，以太坊的阻力接近$ 1,850，下一个钥匙障碍为1,865美元。主要阻力水平为1,920美元，清除这可能会将价格推向1,950美元。

Q1 Performance Concerns

Q1绩效问题

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.

事实证明，2025年第一季度对以太坊特别具有挑战性。根据Coinglass的数据，加密货币的结局下降了45％，这使其成为ETH自2016年以来第三季度。

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.

这种糟糕的表现贡献了大约1700亿美元的市场价值。机构投资者谨慎地做出了回应，仅三月份，以太坊交换贸易资金就会损失4.03亿美元。

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.

此后，标准特许分析师将其年终ETH目标目标从10,000美元降低到4,000美元。这种调整反映了以太坊的第二层解决方案的竞争不断增长，这些解决方案吸引了寻求较低交易费用的用户。

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.

网络活动指标进一步强调了ETH的挣扎。收费的产生急剧下降了，从一月份的1.42亿美元增加到3月的2100万美元。

Network Stats and Market Position

网络统计和市场位置

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.

尽管有价格挑战，以来，以太坊在3月取得了一个显着的里程碑，这是自2024年9月以来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.

根据Defillama的数据，总部位于以太坊的DEXS的现货交易经过了640亿美元，表现优于Solana的520亿美元和BSC的440亿美元。整体市场活动都放缓了。 DEX交易量从1月份的860亿美元减少到3月的850亿美元。

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.

在同一时期，总价值锁定（TVL）也从670亿美元下降到490亿美元。自2021年8月以来，该网络的燃烧率已达到其最低水平。超声货币的数据显示，上周每天仅53张ETH燃烧，并且以太坊的总供应量增长了3％以来EIP-1559升级以来。

Long-Term Potential Remains

长期潜力仍然存在

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.

尽管当前的市场状况似乎具有挑战性，但以太坊的长期潜力不应被忽略。该网络继续领导现实世界中的资产（RWA）令牌化，以50亿美元的标记资产控制了54％的市场。

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部门预计到2030年将成为16万亿美元的行业，可能会引起人们对以太坊的新兴趣。 BlackRock首席执行官拉里·芬克（Larry Fink）强调了令牌化的潜力，预测所有资产最终都将具有链上的代表。

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.

对以太坊的Stablecoin持有量的历史最高额为1,245亿美元。该网络仍然是分散融资中无可争议的领导者，TVL的490亿美元。

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.

以太坊也可以从启用均值的ETF中受益。纽约证券交易所和芝加哥董事会期权交易所都向美国证券交易委员会申请了以太坊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.

市场的情绪可能会随着积极的发展而迅速转移。特朗普家族通过世界自由金融对ETH的投资和埃里克·特朗普对以太坊的公众支持可能会在未来提供额外的势头。

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，专业贸易商和散户投资者对以太坊的价格前景保持谨慎，衍生品数据几乎没有信心在短期内恢复强劲。