Ethereum (ETH) is struggling to sustain price levels above $1,800 as investors shift capital to Bitcoin (BTC), which recently reclaimed the $84,000 mark. Despite broader market optimism, ETH continues to face significant downside pressure due to regulatory uncertainty and weakening demand from institutional investors. Why is Ethereum Price Going Down? Ethereum’s decline is primarily driven by growing skepticism surrounding regulatory developments in the United States. The nomination of Paul Atkins as SEC chair, initially seen as a positive move for crypto, has faced mounting opposition in Congress due to potential conflicts of interest. This uncertainty has raised concerns that pro-crypto policies—including Trump’s proposed inclusion of ETH in the Crypto Strategic Reserve— could face delays or outright rejection. Ethereum Price Analysis | March 30 As a result, traders appear to be offloading ETH in favor of Bitcoin, which is perceived as a safer store of value amid regulatory unpredictability. Additionally, liquidity in Ethereum’s spot market has declined 26% in the last 24 hours, reflecting weak buying support at the current ETH price levels. This combination of regulatory headwinds and shifting market dynamics has kept ETH trapped below $1,800. 12.3 Million Addresses at Risk as ETH Struggles to Attract Buyers Ethereum’s on-chain data trends reveals a looming bearish signal ahead. According to IntoTheBlock , millions ETH addresses would slip into losses if prices fall below $1,600. The latest data suggests that the largest accumulation zone for ETH holders sits between $1,596 and $1,790, with 8.73 million addresses holding a combined 3.61 million ETH in this range. Ethereum In/Out of The Money Data, March 30 | Source: IntoTheBlock If ETH breaks below $1,600, it could trigger a cascade of sell-offs, further deepening the downturn. The lack of significant buying interest at current levels suggests that traders are waiting for either a clear regulatory breakthrough or a deeper price correction before re-entering the market. Ethereum (ETH) is struggling to sustain price levels above $1,780 as investors shift capital to Bitcoin (BTC), which recently reclaimed the $84,000 mark. Investors appear to be positioning themselves in BTC as a hedge against uncertainty. If the sell-0ffs continue on Monday, ETH price could be at risk major downsizing if such a large number of wallets capitulate within a short period. ETH Price Forecast: Ethereum Risks Breakdown Below $1,750 as Momentum Weakens Ethereum price remains on shaky ground, trading at $1,808.82, as technical indicators flash warning signs of further downside risk. The daily chart reveals a sustained bearish trend, with price action struggling below key resistance levels. The ADX breakout at $2,212 suggests significant resistance, and ETH’s failure to reclaim this level signals that bullish momentum is lacking. ETH Price Forecast The MACD indicator paints a concerning picture, with the MACD line at -98.38 firmly below the signal line at -105.99. This suggests that downward momentum is still in control, weakening the case for a reversal. The declining histogram bars reinforce this bearish trend, showing that selling pressure remains dominant. However, a potential recovery scenario exists if ETH can reclaim $1,850 and flip it into support. This would signal a possible retest of $2,212, but bullish conviction is currently lacking. A drop below $1,754—the lower bound of current price action—could trigger liquidation cascades, pushing ETH toward the critical $1,600 support, where 12.3 million addresses risk falling into losses. The post Ethereum Price Analysis: 8.73 Million ETH Addresses at Risk if US Congress Rejects Paul Atkins appeared first on CoinGape .
