Ethereum erased all gains since March 2021, trading near break even

The recent downturn in Ethereum’s price has taken the cryptocurrency’s value back to levels last seen in March 2021. As market volatility continues, the latest data shows that despite sharp cycles of gains and losses in recent years, ETH investors are now effectively back to break even.Five-year performance under scrutinyWhy investors are watching $1,060Potential targets shape the technical picture Five-year performance under scrutinyAccording to figures shared by crypto analyst Ali Martinez, a $10,000 investment made in Ethereum around March 2021 is currently worth roughly the same amount. This means that despite periods of aggressive rallies and steep pullbacks, ETH has failed to generate a net price increase over this timeframe.While this might appear weak at first glance, Martinez argues that the data could actually point to a constructive technical setup. He notes the market has returned to a crucial support area that has been tested in the past, which could influence future price action.Ali Martinez states that even though Ethereum has experienced high volatility, sharp surges, and significant declines since March 2021, the net price change remains flat. He emphasizes that this structure marks a new phase of testing, and highlights $1,060 as a decisive level for ETH’s next direction.Why investors are watching $1,060Martinez singles out the $1,060 price point as a critical threshold for Ethereum. According to him, this region previously attracted strong buying interest during similar market cycles. Whether ETH can hold above this level is seen as key for shaping its short- and medium-term outlook. Ethereum is known as the largest crypto asset after Bitcoin by market value. Its network remains one of the most widely used platforms for decentralized applications and smart contracts, retaining its core role in the ecosystem.Potential targets shape the technical pictureBased on Martinez’s scenario, if ETH can close consistently above $1,060, it may gain upward momentum. The first bullish target in such a scenario would be $2,850, while a stronger move could see prices approach $4,630.On the other hand, there is no clear sign that downward pressure has been fully alleviated. If ETH fails to maintain the $1,060 threshold, the market may continue searching for a new direction.The latest developments show analysts are closely monitoring Ethereum not only for its historical performance but also for the technical thresholds immediately ahead. In particular, price behavior around $1,060 is drawing attention, as many view it as the potential staging ground for the next major move.Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.