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![\"ETH](\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDMvMDE5NWMzMzEtOTZkNi03NzQxLTljYTctZTJiY2FlNTk3ZDll.jpg\")
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Ether needs to reclaim the \u201cmacro\u201d range above the $2,200 mark to amass more upside momentum as crypto markets remain pressured by global macroeconomic concerns until at least the beginning of April.<\/p>\n
Ether (ETH<\/a>) price is down over 51% during its three-month downtrend after it peaked above $4,100 on Dec. 16, 2024, TradingView<\/a> data shows.<\/p>\n ETH\/USD, 1-day chart. Source: Cointelegraph\/<\/em>TradingView<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n To stage a reversal from thncoinglis downtrend, Ether price needs to reclaim the \u201cmacro range\u201d above $2,200, wrote popular crypto analyst Rekt Capital in a March 19 X post<\/a>:<\/p>\n \u201cIf price can generate a strong enough reaction here, then #ETH will be able to reclaim the $2,196-$3,900 Macro Range (black).\u201d<\/p><\/blockquote>\n ETH\/USD, monthly chart. Source: <\/em>Rekt Capital<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n Meanwhile, Ether’s open interest surged<\/a> to a new all-time high on March 21, raising investor hopes that large traders are positioning for a rally above $2,400.<\/p>\n Ether futures aggregate open interest, ETH. Source: CoinGlass<\/em><\/p>\n<\/figcaption><\/figure>\n Ether remains unable to gain significant momentum despite positive crypto regulatory developments, such as the US Securities and Exchange Commission dropping the lawsuit against Ripple<\/a>.<\/p>\n Some analysts expect traditional and cryptocurrency markets to be pressured by global trade war<\/a> concerns until at least the beginning of April, when countries may find a resolution to the retaliatory tariffs.<\/p>\n Related: <\/strong><\/em>Trader nets $480K with 1,500x return before BNB memecoin crashes 50%<\/strong><\/em><\/a><\/p>\n While some crypto traders often blame large investors, or whales, for market downturns, these participants are simply \u201cplaying the market in any direction,\u201d according to Nicolai Sondergaard, a research analyst at Nansen.<\/p>\n The analyst said during Cointelegraph\u2019s Chainreaction daily X <\/a>show on March 21:<\/p>\n \u201cThe ETH whales in the 10k to 100k have actually been accumulating ETH, whereas everyone else has been dumping.\u201d<\/p><\/blockquote>\n The Crypto Debanking Crisis: #CHAINREACTION<\/a> https:\/\/t.co\/nD4qkkzKnB<\/a><\/p>\n \u2014 Cointelegraph (@Cointelegraph) March 21, 2025<\/a><\/p><\/blockquote>\n Related: <\/strong><\/em>Bitcoin\u2019s next catalyst: End of $36T US debt ceiling suspension<\/strong><\/em><\/a><\/p>\n The number of addresses with at least $100,000 worth of Ether started rising at the beginning of March, from just over 70,000 addresses on March 10 to over 75,000 on March 22, Glassnode<\/a> data shows.<\/p>\n ETH: Number of Addresses with Balance \u2265 $100k. Year-to-date chart. Source: <\/em>Glassnode<\/em><\/a>\u00a0<\/em><\/p>\n<\/figcaption><\/figure>\n In comparison, there were over 146,000 wallets with over $100,000 in ETH balance on Dec. 8, when Ether’s price was trading above $4,000.<\/p>\n Despite the potential for short-term volatility, investors remain optimistic for the rest of 2025, VanEck predicted a $6,000<\/a> cycle top for Ether\u2019s price and a $180,000 Bitcoin (BTC<\/a>) price during 2025.<\/p>\nETH whales only ones buying: Nansen analyst<\/h2>\n
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