Good and Bad News for Ethereum (ETH) After Dropping Below $2K

The area ETH ETH is on the rise, but the whales have increased.

ETH joined the market-wide correction in the past few days, falling from $2,200 to a three-week low of $1,970 before recovering slowly to the current $2,000.

This is the most important asset level right now, and it is about to break below it. Therefore, analysts are quick to give insight into what could happen to its price if it loses or can jump quickly.

Why Is ETH Down?

Not only is Ethereum’s native token down 9% in just a few days from its peak on Wednesday, but it has shed more than 16% of its value since last week’s peak of around $2,400. The most obvious reasons for this 10-day decline can be linked to the US Federal Reserve’s hawkish stance on rate cuts and the growing uncertainty in the Middle East, as war has long eluded the region, at least in terms of economic impact.

In addition, ETH investors who use the ETF environment to gain exposure to assets have completely changed their strategy. Data from SoSoValue shows that ETF shares rallied for six straight trading days, from March 10 to March 17. However, the streak was broken on March 18, and has been in the red ever since.

In fact, investors pulled out more than $440 million in this eight-day streak, with combined inflows down to $11.52 billion.

Whales Are Rising

Prominent analyst CW noted that retail investors were also selling ETH “due to fear,” but explained the silver lining: “whales are pulling the selling volume.” Their data shows that buy orders for major altcoins remain “very strong,” and no significant sell orders have been placed.

Buy orders $ETH they are very strong, and there are no sales orders.

Whales absorb selling volume from retail investors.

When the whales lower the price, retail investors sell out of fear, and the whales absorb that volume again. pic.twitter.com/t0fBa9hP43

— CW (@CW8900) March 28, 2026

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Another analyst Ted Pillows pointed out the importance of the $2,000 level, which is now being tested. He noted that ETH could push to $2,150 if it reasserts itself, but could lose to “new lows” if it loses it.

In a separate tweet, Pillows added that ETH could return to the initial liquidity pool around $2,100 soon, then resume its decline after sweeping it.

$ETH low short-term liquidity is largely excluded.

There are decent collections of around $2,100, which are likely to follow.

After that, Ethereum will continue its decline. pic.twitter.com/CZbtgi7O5W

— Ted (@TedPillows) March 28, 2026