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The prominent altcoin Ethereum (ETH) 
$2,640 experienced a significant decline of over 10% within the last 24 hours, falling below an important support level. This drop, occurring on March 4, 2025, has created considerable selling pressure in the market. Experts caution that if ETH continues to dip below crucial thresholds, a more substantial decline may follow.
Critical Levels for Ethereum: Price Analysis and Commentary
Ethereum has lost its long-held support at $2,200. Falling below this level suggests a potential deepening of the downward trend. According to technical analyses, if the leading altcoin maintains daily closures below $2,065, prices could plummet to as low as $1,500.
The drop below Ethereum’s 200-day Exponential Moving Average (EMA) indicates the market is in a bearish trend. This is interpreted as a signal of continued selling pressure. Should Ethereum fall below the $2,000 mark, it is likely to trigger panic selling among traders.
Whales Accumulate ETH Despite Price Decline
Despite the price drop, large investors continue to accumulate ETH. According to on-chain analysis platform Lookonchain, a whale-level wallet named “7 siblings” increased its total ETH holdings to 1,157,000 coins with a recent purchase. On March 4, 2025, this whale acquired 4,993 ETH worth $10.36 million. Prior to this, on February 25, 2025, it spent $28.75 million to buy an additional 12,070 ETH.
In addition to whales, long-term investors are also seen accumulating Ethereum. Over the last 24 hours, there was a $130 million exit of ETH from exchanges. This decline in supply on exchanges indicates that investors are choosing to withdraw the leading altcoin for long-term holding.
Despite these purchases, Ethereum’s price hovers around the $2,070 level. Additionally, daily trading volume has decreased by 12%, suggesting that low market participation could lead to significant price movements.
