Ether (ETH) is currently trading at $1990 as of March 23, 2025, and needs to breach the $2,200 mark to regain bullish momentum, according to crypto analyst Rekt Capital. Despite global macroeconomic pressures and a 51% drop from its December 16, 2024, peak of over $4,100, there are signs of recovery.
Whale Activity
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Ether whales, specifically those holding between 10,000 to 100,000 ETH, have been accumulating ETH since early March, according to Nansen analysts.
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The number of addresses holding at least $100,000 worth of Ether has increased from 70,000 on March 10 to over 75,000 on March 22.
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Since the start of 2025, whales with 10,000 to 100,000 ETH holdings have increased their reserve by 12%.
Market Sentiment and Predictions
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Open interest in Ether has reached an all-time high, suggesting that large traders anticipate a rally above $2,400.
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Despite positive regulatory news, such as the SEC dropping its lawsuit against Ripple, Ether has struggled to gain upward momentum.
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VanEck has predicted a cycle top of $6,000 for Ether in 2025.
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A recent price prediction estimates that the price of ETH is expected to decrease by -6.5% by March 25, 2025.
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The same source also forecasts that the price of ETH will be $2,559.27 on average in April 2025, potentially reaching a maximum of $2,596.70.
