Ethereum Price Prediction – ETH Trending Towards $1756 as Bears Remain in Control 

Highlights:

• Ethereum is marginally up in the day but bears firmly in control
• Ethereum bears pushing price towards $1756 support
• A weak macro-environment could trigger a continuation of the correction 

Ethereum is slightly green today, marginally up by 0.16%, to trade at $1824.23 when going to press. However, trading volumes have dropped in the day, down by 33% to $15.97 billion–signaling caution among investors. This is mainly due to the recently imposed U.S. trade tariffs on April 2 that triggered macro uncertainties. 

The tariffs have triggered risk-averse investor sentiments, resulting in a sell-off of stocks and digital currencies. Nonetheless, along with the uncertainty, some fundamental factors could help push Ethereum upwards.

Scheduled Upgrade on May 7 Could Trigger Ethereum Price Rally

Firstly, Ethereum developers have publicly admitted that May 7 is the date of the highly publicized Pectra upgrade. It will be the network’s most significant update post-March 2024 and follows a successful test on the Hoodi testnet.

Pectra has undergone three phases of test deployments. The first two tests faced challenges, but the last performed flawlessly on Hoodi. It gave developers the go-ahead for mainnet deployment. The upgrade includes eleven Ethereum Improvement Proposals (EIPs) to refine staking, wallets, and overall user ease.

#Ethereum developers have locked in May 7 for the Pectra Upgrade .

One key change, EIP-7251, will boost the staking limit from 32 $ETH to 2,048 $ETH per validator .

This simplifies the staking experience, allowing users to manage multiple validators under one node instead… pic.twitter.com/Kzva9qcgtK

— WIZMusk (@MuskWiz) April 3, 2025

These alterations seek to enhance Ethereum’s efficacy and ease of use for novice and professional users alike. A significant example is proposal EIP-7251, which will increase the staking cap per validator from 32 to 2048 ETH. This update is predicted to streamline operations for institutional stakers since they can control fewer nodes with larger amounts of ETH. All these enhancements to the Ethereum network could cause a surge in demand in the coming days.

Ethereum Still the Strongest DeFi Network

The unrivalled adoption of Ethereum, the world’s second-largest blockchain, indicates underlying confidence in the network. With an all-time high of $132.4 billion, Ethereum’s total stablecoin supply now put the network firmly at the top of DeFi. The network leads in TVL (total value locked), too, sitting comfortably at $49 billion, way ahead of competitors. This is an indicator that users have faith in Ethereum despite its underperforming price. It’s a vote of confidence for the network. 

BREAKING: The stablecoin supply on @ethereum reached an all-time high of $132.4 billion. pic.twitter.com/SAnENZzNXG

— Token Terminal (@tokenterminal) March 25, 2025

Whales Buying Ethereum Remains a Positive Signal For Ethereum

Ethereum whale addresses have grown significantly, accumulating over 130,000 ETH since the price fell below $1,800. This indicates that larger holders view current price ranges as a discounted opportunity rather than a threat. Furthermore, Ethereum continues to onboard new users, with new daily addresses averaging 200,000 in January 2025, two times that of the previous year. At the same time, average gas fees have also dipped to $0.40, lowering the cost of transactions. This is a big deal as it makes Ethereum more attractive to retail money. 

LATEST: Ethereum whales stepped in to buy the dip, adding more than 130,000 $ETH to their wallets in a single day.@Cointelegraph pic.twitter.com/Qqbi5B6j4V

— Crypto Oracle (@CryptOracl) April 4, 2025

Q1 2025 Performance Shows Increased Market Pressure

Due to Ethereum’s strong fundamentals, the asset closed the first quarter of 2025 with a 45% loss, marking its worst quarterly performance. This drop is primarily the result of heightened market turbulence stemming from geopolitical and economic factors. The good news is that this might be a more significant pointer toward the market’s bottoming-out phase for Ethereum and the broader market. 

Technical Analysis – Ethereum Price Bearish, Trending Towards Support

Ethereum is strongly bearish on the hourly charts. This is after failing at the $1835.3 resistance. 

If the correction continues, the key level to watch would be the $1787.7 support. If bears are strong enough to push Ethereum through the $1787.7 support, then a correction to $1756 could follow in the day. 

Recap

Ethereum is currently dealing with a mix of external market forces and internal progress. While the macro factors create a hurdle to market stability, the upcoming Pectra upgrade and strong ecosystem metrics present a convincing argument for a potential price rebound going into the future.