Ether needs to regain the “macro” range above $2,200 to build additional upside momentum, as global macroeconomic concerns continue to pressure crypto markets at least until early April.
Ether (ETH), currently priced at $2,098, has dropped over 51% in the past three months after peaking above $4,100 on December 16, 2024, according to TradingView data.
To reverse this downward trend, Ether needs to regain the “macro range” above $2,200, as noted by crypto analyst Rekt Capital in a March 19 post on X:
“If ETH can produce a strong reaction here, it stands a chance to reclaim the $2,196–$3,900 macro range (black),”
In addition, Ether’s open interest hit an all-time high on March 21, fueling investor optimism that large traders are positioning for a rally past $2,400.
Despite encouraging crypto regulatory developments—such as the US Securities and Exchange Commission dropping its lawsuit against Ripple—Ether has struggled to gain significant momentum.
Some analysts believe that both traditional and cryptocurrency markets will remain under pressure from global trade war concerns until at least early April when nations might finally resolve the retaliatory tariffs.
Glassnode data indicates that the number of addresses holding at least $100,000 worth of Ether increased from just over 70,000 on March 10 to over 75,000 on March 22.
