- Ethereum price slipped 0.3% to $1,862 after the SEC delayed its decision on Fidelity’s spot Ethereum ETF, extending regulatory uncertainty.
- A death cross on Feb. 28 suggests further downside, with ETH trending downward inside a descending channel.
- A move above $2,250 could trigger a 26% rally, while rejection may lead to a 15% drop to $1,754.
The Ethereum price has dropped 0.3% in the last 24 hours to trade at 1,862 as of 2:18 a.m. EST on a 14% slump in trading volume to $22.4 billion.
The drop in the price of ETH comes shortly after the U.S. Securities and Exchange Commission (SEC) once again delayed its decision on Fidelity’s proposed spot Ethereum (ETH) exchange-traded fund (ETF).
The latest postponement, announced on March 12, 2025, pushes the deadline to May 14, extending the regulatory uncertainty surrounding Ethereum’s integration into mainstream markets.
Fidelity, a financial giant, filed its S-1 application last year to offer investors direct exposure to ETH without the complexities of crypto custody.
The SEC’s hesitation reflects ongoing concerns over market volatility and investor protection, echoing delays seen with other crypto ETFs, such as in-kind creation and redemptions for BlackRock’s IBIT and Fidelity’s FBTC.
Ethereum Price Risks 15% Extended Loss After Death Cross Signal
Ethereum price took a slight dip as traders reacted to the news, though some analysts see this as a short-term blip. ETH/USDT is trending downward, as indicated by the descending channel and lower highs.
A death cross bearish signal occurred on Feb. 28, confirming the asset would continue downward. Currently, the price of ETH is near the lower boundary of the descending channel, showing potential for either a bounce or further breakdown.
The relative strength index (RSI) is around 34.54, nearing oversold territory, suggesting a possible short-term reversal that could result in 20% gains for ETH price.
However, the declining trading volume indicates a weak momentum in the current move, which could cancel the short-term expected uptrend.
If bulls push the Ethereum price back above $2,250, it may signal market strength and result in further 26% gains, sending the asset to $2,895. Conversely, rejection at $2,250 will likely lead to further losses, pushing ETH price down to new yearly lows of $1,754, a 15% drop from the current price.
