Ethereum’s price is down 5% to about $1,777, with whales accumulating despite the decline. Analysts compare the current market pattern to 2020, predicting possible bullish momentum by Q2 2025. Ethereum remains below key technical levels with resistance near $1,810 and potential further downside risks looming.
Ethereum’s price has taken a hit lately, now hovering around $1,777 after a 5% drop in the last 24 hours. The second-largest cryptocurrency by market cap fell sharply due to various market pressures, including tariff announcements from the US, leading to a significant loss across the crypto market which saw over $140 billion wiped off. With prices plummeting from approximately $3,350 at the start of the year, Ethereum now risks hitting new lows near the $1,700 mark.
The current technical indicators show Ethereum struggling below the $1,800 support level, with recent lows reaching around $1,751. Despite attempts to push the price back above the $1,780 level, downward pressure keeps bears active around $1,820. The market is consolidating at the moment, but it’s clear that several obstacles lie ahead.
Interestingly, on-chain data suggests that large investors, often referred to as whales, are still accumulating ETH in substantial amounts. Analyst CryptoGoos points out that wallets holding between 10,000 and 100,000 ETH have been purchasing more since early 2025, which indicates potential long-term confidence among these bigger players. Retail investors, on the other hand, seem to be stepping back, similar to the behaviour noted just before Ethereum’s previous major price surge in 2020.
Analysts like Mister Crypto mirror this sentiment by drawing parallels between the current price trajectory of ETH and that of 2020. There’s a shared belief that Ethereum could rally significantly in the upcoming months if history does repeat itself, especially highlighting how undervalued ETH is deemed at present.
From a technical standpoint, Ethereum remains below both the 100-hourly Simple Moving Average and the $1,820 barrier. Resistance lies around $1,810, with a potential bullish push needing to clear the $1,840 mark, which overlaps with Fibonacci levels from previous market movements. A decisive move above $1,880 could raise hopes for hitting $1,920, and perhaps, $2,000.
However, some analysts forewarn further dips might be around the corner, with Crypto market analyst Cryptododo7 predicting potential bearish targets between $1,130 and $1,200. It’s worth noting that Ethereum has recently touched its 300-week moving average, a rarity that has historically foreshadowed downturns.
Several other analysts, including Crypto Caesar, believe ETH might be nearing a bottom, but caution remains about breaking current supports. If Ethereum continues falling, possible floors could sit at $1,720, $1,680, or even down to $1,620, if the downward trend persists. Despite these concerns, Titan of Crypto maintains optimism, suggesting ETH could still be poised for significant gains as we move through 2025.
As traders keep a watchful eye on key resistance and support levels, there’s a mixed sentiment in the market. The next few weeks will be crucial in determining whether bulls can regain control and drive ETH towards those ambitious targets, or if the ongoing struggles will result in further losses into the coming months.
