Ethereum Crashed from $2540 to $2005, Breaking its 52 Weeks Low: Will Ethereum’s Downtrend Continue?

Are you the one who wonders what happened to Ethereum as it spiked on Sunday and then dropped below Sunday’s low? Will the Ethereum downtrend continue? Then, this analysis is for you. As we go through the analysis, we first determine what happened on Monday. Further, we discuss what the future scenario of Ethereum price analysis could be as Ethereum crashes below its 52-week low. Without further delay, let’s dive into the price analysis of Ethereum and see what happened.

Ethereum Price Analysis of 3rd March

After marking the high of $2,549.5, the price dropped into the oversold area, as indicated by RSI at 02:25 UTC on 3rd March, suggesting that there may be a pullback in the price. As the price dropped, the channel tried to revive its previous uptrend. At 02:45 UTC, the price broke out of the channel to the upside but failed to form a spike, instead forming another channel. This time, at 06:00 UTC, MACD showed a death crossover. In the meantime, the price broke out to the downside of the channel and created a spike. 

Chart 1: Analysed by vallijat007, published on TradingView, March 4, 2025

As the spike formed, RSI moved to the oversold area. MACD registered a golden crossover at 09:30 UTC, which marked the beginning of another channel to the upside. However, the channel failed to form an uptrend and broke out to the downside at 14:15 UTC, with MACD showing a death cross at 14:55 UTC.

Bearish Trend Continuation

RSI dropped below the level of 30, which is the oversold area, indicating a reversal or at least a pullback. The pullback came in the form of a converging triangle, which broke out to the downside at 18:00 UTC. RSI again dropped below the level of 30 at 18:15 UTC, indicating a reversal or pullback. However, the death cross of MACD at the same time indicated that the price might go lower. 

As both signals contradicted, the price fell further, marking the low of the day on 3rd March at $2,098.5. MACD showed a golden crossover at 20:45 UTC, suggesting a reversal or a pullback. The price pulled back in the form of an expanding triangle, which broke out to the downside on 4th March at 00:55 UTC.