Ethereum (ETH) Price Tumbles Below $1,900

Ethereum price has tumbled below $1,900 in a correction driven by a slew of factors.

Ethereum price has tumbled below $1,900 in a correction driven by a slew of factors. Technicals for the second-largest cryptocurrency are bleak with no signs of a potential reversal.

According to technical analysis, Ethereum (ETH) is slipping below $1,900 as the second-largest cryptocurrency continues to show signs of weakness. As of Monday morning, Ethereum price trades at $1,828 and shows no signs of reversing the grim trend.

A look at Ethereum’s chart does not indicate any signs of an uptrend or a short bounce to stoke embers of optimism. According to pseudonymous analyst Gum, Ethereum signals “relentless downward price action” that could see the asset fall below $1,800.

Over the last day, Ethereum has fallen by nearly 4% while its seven-day chart indicates a decline of nearly 8%. The decline of Ethereum price follows a broader market correction with the global crypto market capitalization losing nearly 3% of its valuation.

On the fundamentals side, things are equally grim for the Ethereum price. Unconfirmed reports of a potential Binance delisting threaten to send Ethereum price to $1,500. Standard Chartered has slashed its ETH prediction for 2025 by 60%, projecting $4,000 as a potential price point by the end of the year.

Network Has Itself To Blame For Failure

Ryan Watkins, co-founder at Syncracy Capital has taken swipes at Ethereum over its failure to keep pace with its peers. According to Watkins, Ethereum failed to capitalize on previous momentum during the last two market cycles.

As such, new blockchains like Solana and Bitcoin have since moved up the pecking order with more developers showing interest in the two chains. An inflow of bridged funds from Ethereum to Solana is also highlighting the concerning narrative.

“No one wants to own a growth stage product that’s falling behind technologically superior competitors and bleeding market share,” said Watkins.

The only way for Ethereum to pull itself from the rut is to “deliver generational leadership and growth.” However, with the Pectra upgrade around the corner, enthusiasts are optimistic that Ethereum can reach $10,000. Hardcore community members are also poking holes in Solana’s rise, attributing it a memecoin craze compared to Ethereum’s neck-deep foray into decentralized finance (DeFi).