- ETH bounced again 13% in per week however continues to be down almost 50% YTD.
- Whales are shopping for heavy—$30M+ simply right this moment—which might sign a bullish flip.
- However rising change flows and RSI close to overbought ranges counsel warning continues to be warranted.
Ethereum had a brutal begin to 2025. Like, actually tough. Its worth tanked almost 50% in Q1 alone—and simply when some of us thought the bleeding would possibly cease, April rolled round with extra dangerous information.
Commerce Conflict Fallout Sends ETH Tumbling
Due to the worldwide commerce conflict heating up once more, ETH dropped to round $1,400 earlier this month. That’s its lowest degree in additional than two years… fairly wild when you consider the place it was not way back.
However wait—there’s been a little bit of a turnaround. Over the previous week, ETH has bounced again with a 13% acquire and is now hovering round $1,670, up 4.5% simply within the final day. A bit breath of recent air? Perhaps.
Bulls Are Sniffing Round
Some analysts are getting bullish—possibly a bit too bullish? Carl Moon, a well-liked voice on X, thinks ETH might bounce 80% from right here and hit $3,000 quickly, assuming it may possibly get away of this descending channel it’s been caught in.
One other dealer, Sheldon The Sniper (yep, that’s his deal with), pointed to ETH making an attempt to flee a falling wedge sample—normally a bullish setup. In the meantime, Crypto King says ETH is sitting in a “nice accumulation zone” and identified that whales have been on a buying spree currently.
Living proof: earlier right this moment, a mysterious whale scooped up 4,208 ETH for near $7 million. One other pockets, per Lookonchain, purchased over 15,900 ETH price $26M. That form of exercise doesn’t go unnoticed—huge buys typically sign rising confidence and may fire up FOMO amongst smaller traders.
However… Warning Flags Are Nonetheless Waving
Now, earlier than everybody masses up the rocket emojis, let’s pump the brakes a sec.
Some technical indicators aren’t as cheery. For one, ETH’s change netflow has been constructive currently. Translation? Extra ETH is shifting from self-custody to exchanges. That usually hints at elevated promoting stress—which isn’t nice for worth motion.
Additionally, the Relative Power Index (RSI), which helps gauge whether or not one thing’s overbought or oversold, is inching uncomfortably near the hazard zone. As soon as that hits above 70, the market tends to count on a pullback. Proper now, it’s slightly below that line.