Ethereum Faces Bearish Pressure: Will the $1,542 Retest Follow?

 
Sahil Mahadik
Written By 
Sahil Mahadik
 
Harsh Chauhan
Edited by 
Harsh Chauhan
March 28, 2025

As Bitcoin momentarily breaks below the $85,000 mark, Ethereum is back below $1,900. Currently, the ETH token trades at a market price of $1,889, with a recent low at $1,861.

Creating its fourth consecutive bearish candle, the downfall in Ethereum price warns of an extended correction. Will this result in a $1,542 retest? Let’s find out.

Ethereum Price Analysis

In the daily chart, the ETH price trend showcases a bullish failure to sustain the short-term recovery. The downfall reversal recovery run retests the overhead supply zone near the $2000 mark before taking a bearish turnaround. 

Ethereum Price Chart

With four consecutive bearish candles starting from an evening start pattern, ETH is back at $1800 levels. Currently, the intraday pullback of 5.79% creates a bearish engulfing candle and undermines the prevailing recovery. 

As the bearish trend gains momentum, the ETH price trend is likely to break below the $1867 previous low. The bearish turnaround reflects a bullish failure to sustain above the 20-day EMA line. 

Furthermore, the sudden turnaround has warned of a potential bearish crossover in the MACD and Signal lines. Thus, the technical indicators maintain a bearish viewpoint.

Institutions Show No Sign of

Despite several bullish indicators, institutional for Ethereum has yet to materialize. Since March 5, ETH ETFs have not recorded any inflows, except for a single day on March 4, when they saw an inflow of $14.58 million.

On March 27, Ethereum ETFs experienced a net outflow of $4.22 million, driven by $2.21 million from one source and $2.01 million from Fidelity. As of March 27, the cumulative net inflow for Ethereum ETFs remains at $2.40 billion.

Ethereum Price Targets

Based on the daily price chart, the sudden downfall despite the declining institutional warns of an extended correction. The immediate level for ETH below the $1867 mark is at the $1542 horizontal level. 

This highlights a downside risk of nearly 18%. However, in case of a bullish comeback, the ETH price will likely reface the overhead supply zone at close to the $2000 psychological mark.

Also Read: Shiba Inu’s 35% Recovery Hits a Snag: Will the $0.000010 Hold?

See more
Sahil Mahadik
Written by Sahil Mahadik

As a full-time trader with over three years of hands-on experience in the financial markets, I have honed an exceptional proficiency in technical analysis, which is the cornerstone of my daily monitoring of price fluctuations in leading assets and indices. My journey into trading began with a deep fascination for financial instruments, and this curiosity naturally expanded into the ever-evolving world of cryptocurrencies. I am currently contributing to CryptoNewsZ and have also written for Coingape, The Coin Republic and TheMarketPeriodical. I am driven by my ion for the markets and want to explore new opportunities, I analyze emerging trends and strategies to get maximum returns in traditional and crypto markets.