Ethereum: Drop Below $2K Raises Sign of Imminent Correction

• Ethereum drops below $2.
• Risk of new correction of 15%.
• Price cycle similar to 2016-17.

In a negative movement, the Ethereum (ETH), the largest altcoin on the market, recently lost the crucial support of $2 and revisited its yearly lows, triggering concerns among experts and investors about a possible new correction in its price of 15%.

Ethereum’s sharp decline followed a pullback in Bitcoin (BTC) and the broader cryptocurrency market, which has also seen a selloff in recent days. However, ETH’s recent performance has stood out, hitting its lowest level since November 2023, trading as low as $1.750 before a notable recovery in value.

Furthermore, according to data According to analytics platform Glassnode, Ethereum has fallen below its realized price for the first time in two years “signaling that the average investor is now holding onto an unrealized loss.”

Market analysts such as Ted Pillows warn of the possibility of a new 15% drop in ETH, after the loss of the US$ 2 support. According to him, Ethereum may test the US$ 1.600 to US$ 1.800 range again, amid the “manipulation phase” of the market.

“$ETH Price Update Accumulation Manipulation phase is ongoing. I think there is a good chance that ETH will retest the $1,6K-$1,8K level given that the $2K support level is now gone,” stated the analyst.

Pillows also suggests that ETH’s price pattern could be following a similar cycle to the one seen in 2016-17, when the cryptocurrency went through a period of consolidation before reaching new highs. If this analysis is true, the second half of this year could be quite bullish for the second-largest cryptocurrency.

“$ETH seems to be trading like the 2016-17 cycle. Consolidating for a year now and recently broke below a key support level. I think the second half of 2025 will be bullish for Ethereum,” wrote .

At the time of publication, the price of Ethereum was quoted at US$1.884,32, up 0.1% in the last 24 hours.