Ethereum Price Faces Bearish Pressure: Potential Drop to $1,500
Ethereum recently broke below the key long-term resistance level of $1904.0 before facing rejection, signaling a strong bearish trend. This suggests that the $2,000-$4,000 trading range seen throughout early 2024 may no longer hold, with Ethereum likely establishing a new, lower range.
Bears are now eyeing the next major support zone around $1,500, making a retest of this level increasingly probable amid ongoing market uncertainty. While easing U.S. inflation gives the Federal Reserve room to adopt a more dovish stance in 2025, concerns over a potential recession remain dominant. Factors such as D.O.G.E austerity measures and uncertainty surrounding Trump’s trade policies are adding to economic pressures, which could weigh on Ethereum’s price trajectory#.$ETH #Write2Earn #Ethereum