Ethereum is trading slightly above 2,000 dollars as March comes to a close, with traders closely watching whether it can secure its first positive monthly return since August 2025. The result could shape the near term outlook, as a sustained move above or below key price levels may determine whether the asset breaks out of its extended downturn or continues to weaken.
ETH Holds Near 2,000 Dollars Amid Weak Momentum
The second largest cryptocurrency has recorded losses for six consecutive months, with data shared on March 30 by analyst Wise Crypto indicating a cumulative decline of nearly 50 percent. Since mid March, price action has remained confined within a downward channel. At the same time, large holders have reduced their positions significantly, offloading about 180,000 ETH and increasing selling pressure in an already weak demand environment.
Market analyst Markus Thielen highlighted mixed technical signals. Ethereum recently slipped below a key support level and formed a pattern often associated with continued downside movement. He pointed out that a similar setup appeared in January before the asset dropped below 1,800 dollars, raising concerns that the current structure could follow the same path.
Demand for Ethereum has also remained subdued. Trading volumes are relatively low, and exchange traded fund flows have been negative. According to SoSoValue data, the last positive day for ETF inflows was March 17, followed by eight consecutive days of outflows, bringing total monthly flows to a loss of 82.13 million dollars.
Wise Crypto identified 1,970 dollars as a critical level. A drop below this point could push prices toward 1,910, 1,830, or even 1,650 dollars. On the upside, a recovery above 2,050 dollars could offer short term relief. This outlook aligns with analyst Ted Pillows, who previously suggested that Ethereum could rebound toward a liquidity zone near 2,100 dollars before potentially resuming its downward trend.
Recent data shows Ethereum trading around 2,040 dollars, gaining roughly 2 percent over the past day while remaining mostly unchanged over the last week. However, it is still down more than 10 percent over the past two weeks, despite posting a monthly gain of about 6 percent so far.
Ethereum and Bitcoin Show Similar Trends
Looking at Ethereum’s broader performance, data from CryptoRank shows strong gains in May, July, and August 2025. However, momentum weakened afterward, with consistent monthly losses from September through February. The steepest drop occurred in November 2025, when returns fell by more than 22 percent.
After a relatively flat December, losses resumed in January 2026 with a decline of 17.7 percent, followed by another 19.6 percent drop in February. March has so far shown a modest gain of just under 5 percent, but with little time left in the month and ongoing price volatility, that positive return is not yet guaranteed.
Bitcoin is also attempting to achieve its first monthly gain since October 2025, although its progress is more limited, with returns still below 1 percent. This follows declines of nearly 15 percent in February and just over 10 percent in January.
A March 30 update from XWIN Research Japan suggested that Bitcoin’s current market behavior reflects a pause in demand rather than a full capitulation phase. Its SOPR metric, which tracks whether coins are being sold at a profit or loss, is currently hovering near the break even level.
A similar interpretation may apply to Ethereum. The core infrastructure, including ETF products, institutional participation, and decentralized finance systems, remains intact. However, buying pressure is still lacking. Traders are now focused on whether price action around the 1,970 dollar level will act as a turning point before the monthly close.#crypto#cryptonews https://coinsignals.nethttps://t.me/coinsignalpublic
