- Ethereum faces key resistance at $2,194; a breakout could push prices toward $2,500, while failure risks a drop below $1,940.
- ETH’s MVRV Z-Score at 23.80 shows a neutral market stance, indicating moderate risk without extreme overvaluation.
- ETH whales added 470K coins since mid-March, boosting accumulation and signaling bullish sentiment above $2,000.
Ethereum (ETH) has maintained its position above $2,000, showing resilience despite a 1% pullback in the past 24 hours. The digital asset is trading at $2,058, an 8% increase over the past week.
Arthur Hayes, co-founder of BitMEX, has expressed confidence in Ethereum’s potential, predicting that ETH will hit $5,000 before Solana (SOL) reaches $300. As April 2025 approaches, Ethereum’s price outlook remains uncertain, with key technical indicators pointing to possible bullish and bearish scenarios.
Market Overview and Price Movement
On March 25, 2025, Ethereum had a daily high of $2,097 and a low of $2,037. Trading volume is at 131.75K ETH, indicating moderate market activity.
The price is below its late 2024 peak of over $4,000, with Ethereum following a prolonged downtrend of lower highs and lower lows. While recent movement suggests a potential recovery, ETH still faces key resistance levels.
These levels need to be breached for further upward momentum. Ethereum’s Bollinger Bands indicate that the asset is trading slightly above the middle band at $1,992.89, suggesting mild upward pressure.
The upper band, at $2,194, acts as an important resistance level. A break above this level could lead to further gains, while failure to hold above support may result in a downward correction.
Indicators and Technical Levels
The MVRV Z-Score, which measures market value against realized value, is at 23.80, indicating a neutral stance. Readings above 59 typically show an overheated market, while values below 6.93 suggest an undervalued asset.
Ethereum’s current position indicates a moderate risk environment, with no extreme overvaluation or undervaluation present. Key support levels include the middle Bollinger Band at $1,992 and a stronger support zone near $1,791.
On the resistance side, ETH must break through $2,194 before attempting psychological resistance at $2,200. If Ethereum clears these barriers, further price targets could emerge in the $2,400-$2,500 range. However, a decline below $1,992 could lead to a retest of $1,750-$1,800, with deeper corrections possible if selling pressure intensifies.
Whale Accumulation and Market Sentiment
According to Ali, large ETH holders have accumulated approximately 470,000 ETH over the past week. Wallets holding between 10,000 and 100,000 ETH have increased their total holdings from 24.77M ETH to 25.35M ETH since mid-March.
Whale activity has influenced Ethereum’s price movement, with sharp declines observed between March 5 and March 9, coinciding with reduced holdings. Between March 10 and March 17, accumulation slowed, leading to choppy price action.
However, after March 18, whales resumed accumulation, aligning with ETH’s price recovery. If this trend continues, Ethereum could see increased buying momentum, pushing the price beyond $2,100. A decline below $1,940, however, could introduce further downside risks.
Ethereum’s price movement needs to break key resistance levels as April nears. Market sentiment, technical factors, and whale activity will be important in determining whether ETH can push toward $2,500 or face renewed bearish pressure.
