Ethereum is trading just above $2,000, attempting to secure its first positive month since August 2025 after six consecutive months of losses. Large holders have sold approximately 180,000 ETH, increasing supply pressure amid weak demand and consistent ETF outflows since mid-March. Analysts warn a breakdown below $1,970 could lead to a drop toward $1,650, while a move above $2,050 may provide temporary relief.
Ethereum is hovering near $2,000 as March concludes, with traders watching to see if it can close its first positive month since August 2025. The outcome could determine whether the altcoin exits a prolonged slump.
Large ETH holders reduced their positions by around 180,000 ETH during the current downturn, adding supply-side pressure. Trading volumes have been subdued with consistent ETF outflows, as data from SoSoValue shows eight straight days of outflows pushing monthly performance to negative $82 million.
Analyst Wise Crypto noted cumulative dips nearing 50% with price action trapped in a falling channel. The analyst stated that $1,970 is now a decisive level, with a breakdown potentially opening a path toward $1,650.
Fellow market watcher Markus Thielen pointed to mixed technical signals, describing a recent bear flag pattern. “There had been a similar formation in January, which came right before ETH dropped below $1,800,” he stated, raising concerns the current setup could follow the same path.
According to CryptoRank data, ETH posted negative monthly returns from September 2025 through February 2026, with November 2025 seeing the worst drop of over 22%. March has so far produced a positive return of just under 5%, though this gain is not yet secure.
Bitcoin is also seeking its first positive monthly return since October 2025, with gains at less than 1% after recent losses. An update from XWIN Research Japan suggested BTC’s market resembles a “demand pause” rather than full capitulation, a framing that may also apply to Ethereum.
