Bitcoin is currently trading near a critical resistance zone around $94,250, a level known as the golden ratio in Fibonacci analysis. This level is considered highly important in both technical trading and natural patterns, and often marks strong turning points in price. Bitcoin reaching this level suggests the recent rally may be slowing down, and traders are watching closely to see what happens next.
So far, Bitcoin has shown signs of a possible five-wave move from its April low. If this pattern completes, it would be a clear sign of bullish strength and could open the door for further gains. However, if the move turns out to be only a three-wave structure, it may mean that the market is still in a broader bear trend, and this recent rise was just a temporary recovery.
Key support for the current trend is between $84,526 and $88,494. As long as the price stays above this zone, the outlook remains positive in the short term. There is also a minor support zone between $91,047 and $93,581 that could help hold the price up in the coming days.
Traders should keep an eye on these levels. If Bitcoin can hold above support and break past the $94,250 resistance with strong momentum, the next target could be as high as $130,000 in the longer term. However, a drop below support may signal weakness and increase the risk of a deeper correction.
Ethereum price dived below $2,000 on March 9, mirroring the broader market downtrend. Institutional investors are offloading ETH, increasing downside risks.
Ethereum Price Dives Below $2,000 as US NFP Tilts Markets Bearish
Ethereum (ETH) experienced significant losses over the weekend as the highly anticipated White House Summit failed to lift market sentiment. Instead, the latest US Non-Farm Payroll (NFP) report dominated investor outlook, highlighting rising unemployment and increasing inflation pressures.
As a result, ETH price tumbled below the psychological $2,000 level, trading as low as $1,998 on Binance on March 9, marking an 8% daily decline. The drop exceeded Bitcoin’s 4% losses within the same timeframe, signaling stronger bearish momentum within ETH spot markets.
Ethereum Price Action
The selling pressure has been exacerbated by mounting fears of further Federal Reserve tightening in response to rising inflation metrics. With investors now eyeing the next Consumer Price Index (CPI) report, ETH price could struggle to gain meaningful traction unless macroeconomic conditions shift favorably.
BlackRock ETF Led Outflows with $11 Million Sell-off After US NFP Data
Amid rising unemployment and inflation triggers, institutional investors are reallocating capital away from crypto markets toward fixed-income securities, driving bond yields higher across global markets. This shift in investor sentiment has translated into substantial outflows from Ethereum ETFs.
According to on-chain analytics provider SosoValue, Ethereum ETFs recorded $23 million in outflows on Friday, the same day the US NFP report was released. Among the largest liquidations, BlackRock’s iShares Ethereum ETF saw an $11 million capital flight, the highest single-day outflow among Ethereum-focused funds.
The rapid outflows in Ethereum ETFs suggest that institutional investors are repositioning their portfolios in anticipation of further downside in crypto markets. If Ethereum ETF outflows continue into the coming week, ETH price could struggle to mount a sustained recovery.
Ethereum price forecast signals have taken a decisive bearish turn, with ETH plunging 8.3% on March 9 to test support near $2,000. The daily chart reveals a concerning technical setup, as ETH struggles below key moving averages, with a confirmed Death Cross between short-term EMAs signaling prolonged downside risks.
If Ethereum closes below the critical $2,000 level, selling pressure could accelerate, targeting the next major support at $1,850, where historical demand has previously stabilized declines.
Ethereum Price Forecast | ETHUSD
The Bollinger Bands show ETH trading at the lower band, suggesting it is in oversold territory. However, the absence of a significant bullish reaction underscores weak buying momentum. The MACD histogram remains in deep negative territory, with its signal line widening against the MACD line—affirming that bearish momentum is strengthening rather than reversing. While a relief bounce cannot be ruled out, any recovery toward $2,250 or $2,433 would likely face intense resistance as sidelined sellers look to re-enter.
The heightened leverage in derivatives markets could amplify price swings. If ETH loses $2,000 decisively, long liquidations may accelerate a cascade effect, making $1,850 the next crucial test for bulls. Conversely, a close above $2,200 could shift sentiment toward a bullish retracement.
Ethereum Price Outlook: Key Levels to Watch This Week
For Ethereum to break its bearish grip, ETF inflows must show signs of stabilization, particularly from major asset managers like BlackRock. If institutional demand returns, ETH could attempt to reclaim the $2,100 level and challenge the $2,250 resistance zone.
On the flip side, if macroeconomic headwinds persist and ETF outflows accelerate, Ethereum risks dropping below $1,950, potentially testing lower support at $1,850. With US CPI data and Federal Reserve commentary on the horizon, traders should remain cautious, as Ethereum’s price action could see heightened volatility in response to broader market shifts.
Overall, Ethereum remains vulnerable to further downside unless it reclaims key resistance levels and sees a resurgence in institutional demand.
Ripple’s Chief Technology Officer, David Schwartz, has confirmed that the Ripple USD (RLUSD) stablecoin can be temporarily halted or reversed to comply with legal or regulatory requirements.
Schwartz’s statement comes after Senator Bill Hagerty updated the GENIUS Act. The bill requires stablecoin issuers to implement technology that allows freezing, seizing, or stopping transfers when legally mandated.
Ripple Technology Enables Freezing of RLUSD Stablecoin
“Requires the permitted payment stablecoin issuer to seize, freeze, burn, or prevent the transfer of payment stablecoins issued by the permitted payment stablecoin issuer.”
Attorney Jeremy Hogan took to social media platform X (formerly Twitter) to question the bill’s practical implications. He particularly stressed the technological capabilities required for stablecoin issuers to implement the proposed rule.
“So, can Ripple or Circle actually freeze RLUSD or USDC once it’s transferred? I didn’t think that was possible for either,” Hogan posted.
In response, Schwartz confirmed that this is indeed possible.
“RLUSD can be frozen or clawed back,” he answered.
Schwartz clarified that this functionality is essential to ensure that the balances on the ledger remain aligned with the legal obligations of the issuer. Since off-ledger events, like court orders, can change or nullify those obligations, it’s important for issuers to have the ability to update the ledger as needed.
It should be noted that in January, the XRP Ledger (XRPL) activated the clawback amendment. This followed a 90% vote from its community.
This change allows token issuers to retrieve tokens from wallets that have been deposited into Automated Market Maker (AMM) pools. This, in turn, helps maintain adherence to regulatory requirements. Given that RLUSD is natively issued on both the XRP Ledger and Ethereum (ETH) blockchains, the clawback functionality applies to it as well.
The bill also stipulates federal oversight for stablecoin issuers with market values exceeding $10 billion. At present, only Tether (USDT) and USD Coin (USDC) meet this threshold.
Meanwhile, RLUSD is a relatively new stablecoin. Ripple launched it on December 17, 2024. In addition, BeInCrypto data shows that it currently has a market capitalization of 135.1 million.
Therefore, as per the act, it will remain under state regulation. However, the state should also follow a framework comparable to federal standards.
While Ethereum price charts appear gloomy at first glance, a pattern from 2020 is forming that can trigger fresh rallies for ETH. Crypto analyst Carl Moon says the difference between Ethereum’s price and its realized price is a setup for a parabolic rally in the future.
Ethereum Price To Recapture $2,000 Within Days
Crypto expert Carl Moon says that Ethereum’s poor run of form is reaching its end after prices mirrored a historical pattern. According to Moon’s post on X, the Ethereum price currently trades far below its realized price of $2,000.
Realized price, also known as true cost basis, is the average price of circulating assets at their last on-chain transaction.
Moon notes that this is the first time that the Ethereum price has fallen below its realized price in nearly five years. A previous occurrence in early 2020 saw the Ethereum price slump from $283 to almost $100, far below its realized price.
The crypto analyst highlights the impressive rally that followed the slump below the realized price back in 2020. At the time, the ETH price stage a short-term recovery to surge past the $283 mark before going on to cross the $4K mark.
“Ethereum is below the realized price of $2,000. This is a rare event,” said Moon. “The last time this happened was in March 2020, when ETH dropped from $283 to $109. Notice how quickly ETH recovered.”
As ETH grapples with $1,500, Moon says ETH’s price is far below its realized prize of $2,000, a clear signal of bottoming behavior.
Weakening Demand For ETH Despite Cyclical Pattern
Crypto analyst Vasu Crypto has taken swipes at Ethereum over its weakening demand in recent months. The analyst notes while the underlying technology is solid, low demand has negatively affected its price economy.
Per Vasu, new blockchains like Solana, Sui, and layer 2 protocols are aping into Ethereum’s market share. Their speed and lower transaction cost have cast doubt over Ethereum becoming deflationary again.
“The supply is increasing, but there’s no strong demand coming,” said Vasu.
World Liberty Financial is selling off its ETH holdings at a loss, signaling a loss of institutional appetite for the ETH. Standard Chartered lowered their prediction for Ethereum price to $4,000 from $10,000 after a shoddy performance in Q1.
Furthermore, even grimmer predictions continue to hover around the Ethereum price. Bitcoin critic Peter Schiff predicts that an ETH drop below $1,000 is in play given cyclical behaviour from 2022.
