Ether Risks Slipping Below $1.9K on Fear of Capitulation
Ether (ETH) has been in a constant bearish trajectory over the past three months, dropping more than 52% since it touched an all-time high of more than $4,100 on Dec. 16, 2024, according to TradingView data. With the current price sitting at approximately $1,939, experts say another fall below $1,900 can trigger a significant market reaction.
Robust Demand Zone Below $1,900
On-chain metrics show that one of the main support zones is between $1,848 and $1,905, where roughly 4.3 million ETH have been purchased previously, according to IntoTheBlock senior research analyst Juan Pellicer.
“Traditionally, this region has provided excellent support. If ETH dips below this level, capitulation danger is greater due to tighter demand below this region,”
Capitulation is panic selling in bulk, which can be a precipitous price drop prior to a potential recovery in the market.
Whale Accumulation Could Be Preventing Further Declines
There are risks to the downside, but analysts believe that growing whale accumulation could prevent Ether from going much lower. According to Nicolai Sondergaard, an Nansen analyst, large investors have been collectively adding to their holdings.
“It does seem likely that if ETH is unable to hold the $1,900 level, we’d see further downside,” Sondergaard said. “However, whales have been accumulating, and WLFI also holds substantial ETH, making further declines less certain.”
Glassnode market information substantiates this perception, as the number of Ethereum whale accounts with 1,000 ETH or more ($1.92 million) increased over 4% in 2025. Such accounts moved up from 4,652 on Jan. 1 to over 4,843 on March 14.
Market Uncertainty and Institutional Positions
Up-to-date options data shows institutional participants are preparing for volatility in both directions, as well as uncertainty regarding the direction of ETH’s price. The analysts are still divided on whether Ether will see a steep rebound or additional corrections.
Ether’s short-term trend is unclear while major indicators see the $1,900 support level as being potentially pivotal to decide its future direction.
