The second-largest cryptocurrency by capitalization faced significant downward pressure and a sharp price pullback, close to the levels of early March. This means that it is balancing on the brink of instability, as follows from the CoinMarketCap figures.

Ether is balancing on the brink of the psychological level of $3,500. According to CoinMarketCap experts, the decline in the value of ETH could be caused by significant selling pressure from long-term holders of the asset as Ether reaches new historical highs.


Currently, the cost of ETH is fluctuating around $3,300–$3,600, and if ETH is unable to sustainably regain its position above the threshold, it may continue to decline and fall to $3,000.


On the afternoon of Monday, March 18, ether was trading at $3,570, immediately dropping to $3,413. On the weekly timeframe, the market value of ETH fell by more than 11% with a trading volume of $17.4 billion.

The day before, venture capital and cryptocurrency investor Chris Burniske said that he still considers Ether to be the best altcoin, as “it has established itself as the settlement level for crypto assets.”