Will the Ethereum price continue to decline past the 2024 lows to reach $1,500?

Ethereum’s value hangs precariously at a significant base level level, facing the threat of a slide to $1,500. As liquidations of Ethereum surge and large holders make their moves, will the bulls manage to sustain their position or will they succumb?

The price of ETH is enduring substantial selling pressure and stands on the edge of exacerbating losses accrued over the last three months, potentially wrapping up Q1 2025 poorly. As this is being written, ETH, the second most valuable digital currency, is at a vital base level point, revisiting the range between $1,700 and $1,800—an established double bottom.

(ETHUSDT)

Ethereum Price Declines as ETH Liquidations Surge Ahead of Trump Liberation Day

Should the price dip below $1,700, ETH could head towards $1,500, pushing losses significantly below the lows of 2024. Such a downturn would likely liquidate more leveraged positions, based on Coinglass data.

As of March 31, liquidations for Ethereum surpassed those of Bitcoin and notable cryptos like Solana and Cardano.

In just the last 24 hours, $73 million of the total $264 million in long liquidations were Ethereum positions. More than 101,000 traders have faced liquidations during this time, with the most significant single liquidation being an ETHUSD-long on Binance, resulting in the trading platform selling a $13.3 million long position.

(Source)

ETH USD Price floor at $1,800: Can Bulls Maintain Strength?

Glassnode analytics indicate that the distribution of Ethereum’s cost basis lacks substantial price floor at the prevailing prices of $1,700 to $1,800.

This forecast indicates a weakened Ethereum market, where bulls might struggle to uphold the double bottom, which could lead to even greater losses.

According to Glassnode analysts, addresses with a buy-in price of $1,800 show no commitment and exhibit no signs of re-entering, which likely contributed to Ethereum’s fall below $1,800 on March 30.

#Ethereum’s Cost Basis Distribution reflects minimal price floor close to the current price. Weekly insights reveal that addresses with a cost basis around $1.8K haven’t re-engaged, explaining the failure of this level during the recent downturn. pic.twitter.com/iinBRcBFZb

— glassnode (@glassnode) March 31, 2025

Moreover, a growing number of holders are exiting the trading market at a wrecked. On March 28, approximately 250,000 Ethereum with cost bases between $2,000 and $2,050 “vanished,” likely indicative of capitulation by holders.

Given the current price levels, accumulation appears limited; should the bears continue to press, this might instigate the next wave of selling towards $1,537, a support area where 994,000 ETH were purchased.

Despite the worries, some analysts argue that ETH is in a transformative process rather than a destructive spiral, which may ultimately advantage some of the most promising presales worth considering for investment in 2025.

ETH USD Has Failed to Deliver – Is Ethereum Transforming?

On X, one commentator pointed out that although on-chain protocol fee revenue is decreasing, this doesn’t signify an impending demise.

“Revenue ” == “Ethereum dying”

Simultaneously:
– Before PoS, Ethereum generated no revenue
– ETH blocks have consistently been full
– Ethereum is processing 15x the transactions with Rollups
– Fees on ETH below $1
– Issuance decreased from 4.06% -> 0.7%

Ethereum isn’t dying. It’s evolving… pic.twitter.com/TKZrldw945

— fabda.eth (@fabdarice) March 30, 2025

Instead, the network is progressing as ETH rollups such as Base, Optimism, and Arbitrum handle an increased number of transactions, alleviating pressure on the mainnet where fees have significantly reduced.

Major players are also backing Ethereum. World Liberty Financial has been actively acquiring ETH since 2024.

This firm, associated with Donald Trump, maintains 91% of its cryptocurrency portfolio in Ethereum.

(Source)

In December 2024, they invested $2.5 million in Ethereum. Shortly after, on inauguration day, they executed a $47 million purchase.

They later increased their holdings in late January, subsequently transferring them to Coinbase Prime in early February.

BREAKING!!

WORLD LIBERTY FI HAS BEEN ACCUMULATING ETH OVER THE PAST WEEK.

WLF HAS BOUGHT APPROXIMATELY 1,500 Ethereum IN THE LAST WEEK… SEEMS THEY HAVE INSIGHT WE DON’T. pic.twitter.com/o25iRV1qT1

— Kyle Chassé / DD (@kyle_chasse) February 26, 2025

The Decentralized finance organization added even more ETH in early March, reinforcing its status as one of the largest ETH whales.

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