Ethereum Faces Bearish Pressure: Will the $1,542 Retest Follow?

As Bitcoin momentarily breaks below the $85,000 mark, Ethereum is back below $1,900. Currently, the ETH token trades at a market price of $1,889, with a recent low at $1,861.

Creating its fourth consecutive bearish candle, the downfall in Ethereum price warns of an extended correction. Will this result in a $1,542 retest? Let’s find out.

Ethereum Price Analysis

In the daily chart, the ETH price trend showcases a bullish failure to sustain the short-term recovery. The downfall reversal recovery run retests the overhead supply zone near the $2000 mark before taking a bearish turnaround. 

With four consecutive bearish candles starting from an evening start pattern, ETH is back at $1800 levels. Currently, the intraday pullback of 5.79% creates a bearish engulfing candle and undermines the prevailing recovery. 

As the bearish trend gains momentum, the ETH price trend is likely to break below the $1867 previous low. The bearish turnaround reflects a bullish failure to sustain above the 20-day EMA line. 

Furthermore, the sudden turnaround has warned of a potential bearish crossover in the MACD and Signal lines. Thus, the technical indicators maintain a bearish viewpoint.

Institutions Show No Sign of Support

Despite several bullish indicators, institutional support for Ethereum has yet to materialize. Since March 5, ETH ETFs have not recorded any inflows, except for a single day on March 4, when they saw an inflow of $14.58 million.

Ethereum ETF Flow (US$ million) – 2025-03-27

TOTAL NET FLOW: -4.2

ETHA: 0
FETH: -2
ETHW: 0
CETH: 0
ETHV: -2.2
QETH: 0
EZET: 0
ETHE: 0
ETH: 0

For all the data & disclaimers visit:https://t.co/FppgUwAthD

— Farside Investors (@FarsideUK) March 28, 2025

On March 27, Ethereum ETFs experienced a net outflow of $4.22 million, driven by $2.21 million from one source and $2.01 million from Fidelity. As of March 27, the cumulative net inflow for Ethereum ETFs remains at $2.40 billion.

Ethereum Price Targets

Based on the daily price chart, the sudden downfall despite the declining institutional support warns of an extended correction. The immediate support level for ETH below the $1867 mark is at the $1542 horizontal level. 

This highlights a downside risk of nearly 18%. However, in case of a bullish comeback, the ETH price will likely reface the overhead supply zone at close to the $2000 psychological mark.

Also Read: Shiba Inu’s 35% Recovery Hits a Snag: Will the $0.000010 Support Hold?

Written by
Sahil Mahadik

As a full-time trader with over three years of hands-on experience in the financial markets, I have honed an exceptional proficiency in technical analysis, which is the cornerstone of my daily monitoring of price fluctuations in leading assets and indices. My journey into trading began with a deep fascination for financial instruments, and this curiosity naturally expanded into the ever-evolving world of cryptocurrencies. I am currently contributing to CryptoNewsZ and have also written for Coingape, The Coin Republic and TheMarketPeriodical. I am driven by my passion for the markets and want to explore new opportunities, I analyze emerging trends and strategies to get maximum returns in traditional and crypto markets.