Ether (ETH) traded at $1,874.60 on Wednesday, March 12, marking a decline of $45.11 or 2.35% from the previous trading session. The cryptocurrency continues to struggle amid broader market weakness, with ETH losing 29.94% over the past four weeks. Over the past 12 months, its price has plunged by 53.05%, reflecting ongoing volatility in the digital asset space.
Ethereum declines by over 2% against US dollar
The decline in ETH’s price comes amid increased uncertainty surrounding regulatory actions, shifting macroeconomic conditions, and broader risk-off sentiment in financial markets. U.S. regulators have intensified scrutiny on the crypto industry, with the SEC and CFTC ramping up enforcement actions against major crypto exchanges and staking services. Additionally, Ethereum’s transition to a proof-of-stake network has sparked debates over its classification as a security, creating further regulatory ambiguity.
Long-term investor interest in Ethereum remains strong
Despite short-term headwinds, long-term investor interest in Ethereum remains strong. The network continues to be a leading platform for decentralized finance (DeFi) applications, smart contracts, and non-fungible tokens (NFTs). Developers are also working on Ethereum’s next major upgrade, aimed at improving scalability and reducing transaction fees, which could enhance its appeal in the long run.
What analysts expect
Looking ahead, Trading Economics’ global macro models and analysts’ expectations project ETH to recover modestly, reaching $2,142.34 by the end of this quarter. However, price estimates suggest some consolidation over the next year, with ETH forecasted to trade at $1,997.38. This outlook reflects a balance between continued network adoption and the lingering impact of economic and regulatory pressures.
