Ethereum’s native token, Ether (ETH), continues to consolidate under $2,000, which some traders view as a psychological level. Ether price slipped below this range on March 10, and the altcoin continues to trade at its lowest value since October 2023.
Ethereum 4-hour chart. Source: Cointelegraph/TradingView
Ether price has also lost market value with respect to other major altcoins, with XRP price reaching its highest level against ETH in five years on March 15.
The real question among investors is whether ETH is capable of recapturing a portion of its recent losses or whether traders will capitulate if the price falls below $1,900.
Ethereum traders could jump ship if price falls below $1,900
According to data from IntoTheBlock, a data analytics platform, Ethereum holders accumulated 3.56 million ETH between $1,900 and $1,843, with an average price of $1,871.