Ethereum price falls to 2-year low, but pro traders still have hope

Ether (ETH) price dropped to $1,410 on April 7, marking its lowest level since March 2023. This sharp decline triggered liquidations of leveraged ETH futures worth over $370 million in 2 days, according to CoinGlass data. However, the altcoin managed to recover above the $1,500 mark as the S&P 500 index reclaimed its psychological 5,000 support level.

Ether/USD (blue) vs. total crypto market capitalization (magenta). Source: TradingView / Cointelegraph

Over the past 30 days, Ether...