Ethereum experienced one of the most chaotic trading days in its history last Monday, as it plunged over 30% in less than 24 hours amid escalating U.S. trade war fears. However, the market quickly rebounded after President Trump announced negotiations with Canada and Mexico, leading to a sharp recovery across crypto assets.
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Despite this rebound, Ethereum remains significantly weaker than other altcoins, raising concerns about how long this underperformance will last. Investors are closely watching price action, as ETH continues to trade at historically low levels relative to Bitcoin and other altcoins.
Top analyst Carl Runefelt shared a technical analysis on X, revealing that Ethereum is holding onto a key horizontal support level on the ETHBTC chart. This suggests that ETH could be at a turning point, with a potential opportunity for recovery if bulls step in. However, failure to hold this level could indicate further downside ahead.
With Ethereum lagging behind its peers, sentiment remains mixed, and market participants are waiting for a clear confirmation of trend direction. Will ETH finally start catching up, or is another leg down still on the table? The next few weeks will be crucial.
Ethereum Faces Uncertainty After Record Liquidations
Ethereum has struggled after one of the most brutal liquidation events in crypto history, with over $8 billion wiped out from the market between Sunday night and Monday. ETH was one of the hardest-hit assets, with price action looking weak and uncertain compared to Bitcoin. This has sparked concerns among analysts, who fear Ethereum’s underperformance could continue.
However, top analyst Carl Runefelt remains optimistic. He shared a technical analysis on X, revealing that Ethereum is holding a crucial horizontal support level on the ETHBTC chart around 0.028. Runefelt believes that if ETH bounces from this level, it could trigger a massive parabolic move, marking the beginning of a long-awaited altseason.
Ethereum has lagged behind BTC since late 2021, failing to reclaim its dominance despite multiple market rallies. While Bitcoin continues to flirt with all-time highs, ETH remains far from its previous peak, and many traders are now questioning whether Ethereum can regain its strength.
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For now, Ethereum remains at a…
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