Ethereum price drops below $2,100 for first time in 15 months

Ethereum fell below $ 2,100, reaching its lowest level since December 2023 while Trump Tariff concerns the Hochet markets.

Cryptocurrency is down 15% in the last 24 hours, negotiating $ 2,063, according to Crypto.News Price data. The decline follows a short-term rally after the announcement of Donald Trump on March 2 of a strategic reserve of American crypto, which briefly pushed ETH above $ 2,500.

However, Trump’s confirmation that new tariffs on China, Canada and Mexico will come into force on March 4 have caused a change of feeling in the market, which raises more -time concerns about broader economic instability.

The announcement caused Ethereum (Ethn) Price to fall, lowering below its pre-pump level of around $ 2190. Decentralized financial activity and the Ethereum term market both indicate the decline in Ethereum impetus. The open interest in the term contracts on ETH fell by 10% in the last day, according to Coinglass data.

DEFI TVL, on the other hand, reached the lowest this year, going from $ 71 billion in January to $ 48.1 billion on March 4. Since March 1, there have been $ 109 million in stallions, indicating a decrease in liquidity, as Defillama has been shown data.

Ethereum whales also seem to reduce their assets. Lookonchain reported a significant transaction in which 30,000 Ethereum, around $ 68 million, were discharged in Falconx and Galaxy Digital on March 4 from a portfolio linked to Genesis.

Ethereum displays a higher risk of decline on the technical front. The RSI approaches surveillance at 34, which suggests reduced purchase pressure. The displaced averages indicate a strong downward trend, with ETH exchanging key levels such as EMA from 10 days to $ 2,338 and SMA from $ 50 days to $ 2,852.

Although the oscillators display contradictory indications, negative momentum readings and MacD imply that the lowering feeling increases. The nearest support is $ 2,069, with a resistance at $ 2,163 and $ 2,321. drops In the coming days, if the downward trend persists.

Some upcoming events could provide a turning point. Ethereum pectra upgradeScheduled for April, should improve the scalability and flexibility of flexibility, possibly attracting more network activity. Investors also have an eye on the first crypto of the White House Summit On March 7, which could provide more details on Trump’s plans for its cryptographic strategic reserve.