Ethereum price bottomed at approximately $1,754 on Friday, marking its third consecutive losing week. With trading volumes declining and indicators signaling oversold conditions, historical patterns suggest that ETH may be on the verge of a significant rebound. Ethereum (ETH) Price Finds New Bottom at $1,754 as Bearish Grip Loosens Ethereum’s price action has been dominated by bearish sentiment, with the cryptocurrency shedding over 38% of its value in just three weeks. The chart above illustrates ETH’s decline from last month’s peak of $2,857 to a low of $1,754 last week, with another 3% drop recorded as of March 16. This prolonged downtrend mirrors previous cycles where deep corrections led to significant recoveries. Ethereum price forecast | ETHUSD Historically, Ethereum has rebounded strongly after multi-week losing streaks. The last time ETH saw three consecutive weekly declines of this magnitude was in July 2024, followed by a 93% surge over the next three months. The volume indicators now suggest a potential shift, as declining sell-side pressure could set the stage for an upcoming relief rally. If ETH follows its previous pattern, a rebound toward the $3,400 level could materialize in the coming months. However, traders must watch for confirmation signals, as a failure to regain momentum could extend the current bearish trend. 3 Bearish Risks to Watch in the Week Ahead Ethereum’s price recently bottomed at $1,754, marking its third consecutive week of decline—an occurrence not seen since July 2024. While this signals a classic oversold market condition, several major events in the coming week could slow down ETH’s rebound prospects. Pectra Upgrade Developments: Ethereum developers have launched a new testnet, Hoodi, to rigorously test the upcoming Pectra upgrade before its mainnet deployment. While this move aims to enhance network stability, uncertainty surrounding the upgrade’s impact could weigh on investor sentiment. Staking Withdrawals: The announcement of the Pectra upgrade triggered significant staking withdrawals, totaling approximately $500 million. If this trend of investor caution persists, it could further dampen short-term rebound prospects and limit upside momentum. Doubts Around Strategic Crypto Reserve Proposals: Former President Trump’s proposal to include Ethereum and other altcoins in a strategic Crypto Reserve has sparked debate. JP Morgan has recently expressed skepticism about Trump securing congressional approval to allocate treasury funds for acquiring Ripple (XRP), Ethereum (ETH), and other altcoins. Investors will be closely monitoring fresh developments on this front, as uncertainty could introduce more volatility. Ethereum Market Outlook for the Week Ethereum’s oversold status could attract heavy inflows in the coming week, especially if the upcoming U.S. Fed rate decision leans dovish. However, any overhang from the aforementioned bearish catalysts could stifle bullish momentum. This explains why ETH price has underperformed relative to rival Layer-1 assets like Ripple (XRP) and Litecoin (LTC) over the weekend. If these dynamics persist, traders can expect ETH to continue lagging behind the broader market, even in a bullish environment. Ethereum (ETH) Price Forecast: Falling Wedge Breakout Targets $2,450, but Bearish Risks Keep $1,800 in Play Ethereum price forecast are currently showing mixed signals as ETH remains trapped within a falling wedge pattern. The daily chart shows ETH price is currently trading around $1,889, hovering near the lower boundary of the wedge. Historically, falling wedges often precede bullish reversals, but confirmation is required. Ethereum price forecast The key resistance level stands at $2,129, marked by the mid-Keltner Channel line. A decisive breakout above this level could propel ETH toward the $2,450 region, aligning with the upper boundary of the wedge and a historical resistance zone. The MACD indicator, however, remains in negative territory, suggesting that bearish pressure still dominates. A bullish crossover in the MACD line would strengthen the case for an upward breakout. Conversely, failure to hold above the $1,806 support level could invalidate the bullish setup. Continued downward pressure may force ETH to revisit its recent lows, increasing the probability of further declines. Until a breakout above $2,130 materialises, Ethereum short-term price rebound prospects remain shaky. The post Ethereum Price Flashing $3,400 Rebound Signals After 3-Weeks in Red: Hold or Sell? appeared first on CoinGape .
