- ETH bounced back 13% in a week but is still down nearly 50% YTD.
- Whales are buying heavy—$30M+ just today—which could signal a bullish turn.
- But rising exchange flows and RSI near overbought levels suggest caution is still warranted.
Ethereum had a brutal start to 2025. Like, really rough. Its price tanked nearly 50% in Q1 alone—and just when some folks thought the bleeding might stop, April rolled around with more bad news.
Trade War Fallout Sends ETH Tumbling
Thanks to the global trade war heating up again, ETH dropped to around $1,400 earlier this month. That’s its lowest level in more than two years… pretty wild when you think about where it was not long ago.
But wait—there’s been a bit of a turnaround. Over the past week, ETH has bounced back with a 13% gain and is now hovering around $1,670, up 4.5% just in the last day. A little breath of fresh air? Maybe.
Bulls Are Sniffing Around
Some analysts are getting bullish—maybe a bit too bullish? Carl Moon, a popular voice on X, thinks ETH could jump 80% from here and hit $3,000 soon, assuming it can break out of this descending channel it’s been stuck in.
Another trader, Sheldon The Sniper (yep, that’s his handle), pointed to ETH trying to escape a falling wedge pattern—usually a bullish setup. Meanwhile, Crypto King says ETH is sitting in a “great accumulation zone” and pointed out that whales have been on a shopping spree lately.
Case in point: earlier today, a mysterious whale scooped up 4,208 ETH for close to $7 million. Another wallet, per Lookonchain, bought over 15,900 ETH worth $26M. That kind of activity doesn’t go unnoticed—big buys often signal growing confidence and can stir up FOMO among smaller investors.
But… Caution Flags Are Still Waving
Now, before everyone loads up the rocket emojis, let’s pump the brakes a sec.
Some technical signals aren’t as cheery. For one, ETH’s exchange netflow has been positive lately. Translation? More ETH is moving from self-custody to exchanges. That often hints at increased selling pressure—which isn’t great for price action.
Also, the Relative Strength Index (RSI), which helps gauge whether something’s overbought or oversold, is inching uncomfortably close to the danger zone. Once that hits above 70, the market tends to expect a pullback. Right now, it’s just below that line.
