The financial markets have their own memory, and the cryptos do not escape it. Thus, when an asset shows disturbing similarities with a past crash, analysts are alert. Ethereum, the second largest crypto on the market, sees its price plunging, which revives the spectrum of the Mars 2020 crash. The Ted Pillows trader says that the current behavior of the ETH market reflects the capitulation of this dark period almost identically, which suggests a scenario where the asset could descend up to 1400 dollars.
The alert signal: a worrying parallel with 2020
This alert is given by Ted Pillows, Trader and analyst followed by many investors. In a message posted on X (ex-Twitter) on March 2, 2025, he claims that “the current capitulation candle of the ETH is an almost compliant copy of the Krash of March 2020”. He specifies that a floor between 1400 and 1600 dollars is possible before any possible rebound.
This parallel is not trivial. In March 2020, Ethereum, like the entire Crypto market, suffered a brutal collapse in a context of global financial panic. The observation of Pillows is based on a technical analysis of the graphics: the same liquidation patterns are observed, which has suggested a downward dynamic still unfinished. If the comparison is confirmed, a new decrease phase could shake the market in the days or weeks to come.
A temporary fall before a rebound?
Despite this short -term pessimistic scenario, Ted Pillows has a certain optimism on the long -term trajectory of Ethereum. He underlines That “ETH will reach $ 10,000 during this cycle”, which would represent an increase of 530 % compared to its current price of around 1880 dollars.
However, this upward forecast is only based on technical indicators and does not take into account the fundamental elements that could weigh on the valuation of the assets. Indeed, Ethereum is currently undergoing massive outings of ETH ETH, up to $ 22 million. Blackrock's Ishares Ethereum Trust Fund, supposed to be a growth catalyst, is paradoxically one of the most affected.
Recent decisions of the Ethereum Foundation, such as the overhaul of its ruling structures and its increased appeal to the protocols DEFI like Aave, provides information on a strategic repositioning attempt. However, will these internal adjustments be enough to reassure investors while competing blockchains continue to gain ground?
Ethereum is currently playing a balancingist in the cryptos market. On the one hand, technical analysis points to a risk of falling, which can bring the ETH back to critical levels. On the other hand, optimistic forecasts see in this drop a simple step before a rebound to new heights.
The central question therefore remains Ethereum's ability to overcome the selling pressure and strengthen its attractiveness in the face of competition. Such a dynamic of ETFs, the strategic choices of the Foundation and the global feeling of the market will be key elements to determine whether this announced fall marks the end of a bull cycle or the last opportunity to buy before a historic flight.
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