Ethereum dropped below $2,000 on March 10, and it has struggled to regain a position above the psychological level.
According to a recent Ethereum price analysis, the ETH token saw a notable decline of 27% in the last week, followed by a 9% drop in the last seven days.
Despite the current market sentiment and the performance of the Ethereum price, investors have remained optimistic regarding its future. This is primarily because of the Ethereum price analysis after the recent attack on Bybit. The exchange company suffered a devastating attack in which over 490,000 ETH worth around $1.46 billion was stolen.
However, in the last 36 hours, Bybit has acquired over $297M worth of ETH, a move that has fueled investor optimism. This investor sentiment is also reflected in the recent spike in trading volume of the ETH token. Furthermore, analysts believe the Ethereum price might surge to new heights with the current market momentum.
