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All Ethereum holders across the network currently carry an average unrealized loss of 7% after ETH price fell below $2,000 for the first time since December 2023.
Ethereum’s native token, Ether (ETH), dropped below $2,000 on March 10, and the altcoin has struggled to regain a position above the psychological level.
While Bitcoin (BTC) and XRP (XRP) exhibited minor recoveries over the past 24 hours, Ether prices failed to display bullish momentum in the charts.
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The altcoin plummeted to a multi-year low of $1,752 on March 11. However, onchain data and technical analysis indicate that the price could drop an additional 15% in the coming weeks.