TLDR
- Ethereum is trading at its lowest levels since late 2023, down 57% since December
- Whales have moved over 130,000 ETH off exchanges in the past week, suggesting accumulation
- Standard Chartered cut its year-end 2025 price target for ETH from $10,000 to $4,000
- ETH is currently trading around $1,904, struggling below the key $2,000 resistance level
- Exchange reserves are at multi-year lows of 18.8 million ETH, indicating long-term accumulation
Ethereum (ETH), the world’s second-largest cryptocurrency, continues to face downward pressure as it trades near its lowest levels since late 2023.
The digital asset has struggled to regain momentum after losing more than 57% of its value since December 2024.
Currently trading at $1,904, ETH remains below the key $2,000 resistance level. This price point has become a critical threshold for bulls who hope to reverse the extended downtrend.
ETH Price
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
Despite the bearish price action, on-chain data reveals a different story. Large investors, commonly known as “whales,” have moved over 130,000 ETH off exchanges in the past week alone. This behavior often signals accumulation rather than selling intentions.
When whales transfer their ETH holdings to private wallets, it typically means they plan to hold for the long term. This pattern has been developing since Ethereum began trending downward.
Historical data suggests that large whale accumulations frequently precede strong market rebounds. However, ETH must still overcome major resistance levels before any trend reversal can be confirmed.
The exchange reserve chart shows ETH held on exchanges has declined to multi-year lows, around 18.8 million tokens. This decline in exchange reserves indicates that more investors are moving their ETH to self-custody or staking solutions.
Lower exchange reserves generally mean less ETH is available for immediate selling. This supply reduction could potentially support price stability once selling pressure fades.
Technical analysis shows ETH’s daily chart remains bearish. The 200-day moving average sits around $2,900, well above current price levels, indicating strong bearish sentiment in the market.
On the 4-hour chart, ETH has broken out of a descending wedge pattern. This technical formation could signal a potential trend reversal if buyers step in with conviction.
The Relative Strength Index (RSI) shows oversold conditions on the daily timeframe. This oversold status suggests a short-term bounce might occur in the coming days.
Standard Chartered Prediction Slashed
Investment bank Standard Chartered has recently adjusted its outlook on Ethereum. In a report released Monday, the bank slashed its year-end 2025 price target for ETH from $10,000 to $4,000.
Standard Chartered cited structural issues affecting Ethereum’s growth. The bank noted that Layer 2 blockchains, which were designed to improve Ethereum’s scalability, may have unintentionally reduced ETH’s market capitalization.
Coinbase’s Layer 2 solution, Base, has reportedly reduced Ethereum’s market cap by approximately $50 billion. Analysts expect this trend to continue unless the Ethereum Foundation makes proactive changes to its commercial direction.
While Standard Chartered still expects ETH to recover from current levels, they predict it will continue to underperform relative to Bitcoin (BTC). The bank forecasts the ETH/BTC ratio to decline to 0.015 by the end of 2027, reaching its lowest level since 2017.
For Ethereum to regain a bullish outlook, bulls must reclaim the $2,000 level quickly. A sustained push above this resistance could set the stage for a rally toward higher levels, potentially testing the $2,200-$2,400 range in the coming weeks.
However, if ETH loses current support levels, the next major liquidity zone sits around $1,600. A breakdown below $1,750 might trigger further sell-offs, extending the bearish phase and delaying recovery.
