Ethereum price struggling, potential further drop predicted, support at $1.9K, floor price $1,600 - $1,900.

From Cointelegraph

March 12, 2025 12:19:40 PM:

Ethereum’s Ether (ETH) fell below $2,000 on March 10 and struggled to rise above. While Bitcoin (BTC) and XRP showed minor recoveries, Ether’s price dropped to a multi-year low of $1,752 on March 11. Onchain data predicts a potential 15% further drop in the coming weeks.

Ethereum’s realized price dropped below $2,054 for the first time since February 2023, indicating widespread unrealized losses for ETH holders. The market value to realized value ratio fell to 0.93, showing a 7% average loss for all ETH holders. Ethereum’s total value locked dropped to $45.6 billion, down 41% from its peak.

Glassnode suggests that $1.9K could become a support level for Ethereum, with potential resistance at $2.2K. Analyst Ninja sees the floor price for Ethereum between $1,600 and $1,900, calling it an attractive region for commercial money. A high swing target is set at $2,500.

Read more at CoinTelegraph: Will Ethereum price bottom at $1.6K?