Ether price risks losing the $1.6K support as multiple ETH price metrics decline By Cointelegraph

Ether’s price surged by 31.3% from March 10 to March 18, coinciding with the Federal Reserve’s injection of $300 billion to address the insolvency of Silicon Valley Bank. Since then, Ether’s (ETH) price has consistently maintained a daily closing price above $1,600.

However, investors are now casting doubt on Ether’s ability to sustain this support level, given the prevailing bearish sentiment in the cryptocurrency space and declining metrics on the network.