Ether is struggling to reverse a near three-month downtrend as macroeconomic concerns and continued selling pressure from US Ether exchange-traded funds (ETFs) weigh on investor sentiment.
Ether (ETH) has fallen by more than 53% since it began its downtrend on Dec. 16, 2024, after it had peaked above $4,100, TradingView data shows.
The downtrend has been fueled by global uncertainty around US import tariffs triggering trade war concerns and a lack of builder activity on the Ethereum network, according to Bitfinex analysts.
ETH/USD, 1-day chart, downtrend. Source: Cointelegraph/ TradingView
“A lack of new projects or builders moving to ETH, primarily due to high operating fees, is likely the principal reason behind the lackluster performance of ETH. […] We believe that for ETH, $1,800 will be a strong level to watch,” the analysts told Cointelegraph.