Ethereum Price Prediction: ETH Battles to Hold $1,560 Support: Will Upcoming Upgrades Propel It to $1,700?

Ethereum is losing ground. The second-largest blockchain by market cap has seen its dominance fall to levels not seen in years, raising concerns about its position in a competitive market. With newer Layer-1s gaining traction and ETH underperforming against Bitcoin, some question whether the network can recover. But not everyone’s bearish. One well-known analyst suggests Ethereum price could be gearing up for a bounce, pointing to oversold conditions and upcoming network upgrades as potential catalysts.

Ethereum’s Slide and the Case for a Turnaround

Ethereum’s crypto market share has fallen sharply, a far cry from its dominance during past cycles. Once the clear leader in DeFi and smart contracts, it now plays defense as rivals like Solana and Avalanche attract users and capital. ETH has also struggled to keep pace with Bitcoin, which has gained favour during rising global uncertainty.

This decline isn’t just about price; interest from institutions has slowed, and inflows into ETH-related products have dried up. Outflows over the past several weeks have only reinforced the bearish narrative. Recent crypto news around declining DeFi activity and institutional hesitancy hasn’t helped sentiment either. But beneath the surface, Ethereum’s roadmap is still moving. Upgrades designed to improve transaction speed and reduce costs are in the pipeline.

A potential approval for Ethereum staking in exchange-traded products could also reignite demand. Some traders believe the current drop may be a bottoming pattern, not a collapse. If sentiment shifts and upgrades deliver, Ethereum may still reclaim lost ground and remind the market why it once led the pack. Let’s take a look at the price predictions of Ethereum to see how these developments impact its price. 

Ethereum Price Prediction for April 17, 2025

After finding resistance near $1,680, Ethereum (ETH) is now consolidating above important support at $1,560. The price action shows indecision; since there are many unsuccessful tries to go higher, it seems that bulls are cautious at high levels. Support areas are clearly defined between $1,420 and $1,560 and provide a buffer for possible pullbacks. Reflecting a balanced market with no obvious directional bias, the RSI is at the middle of 50. On this graph, RSI’s reliability is supported by the fact that overbought signals came before price corrections, whilst oversold readings led to temporary rebounds.

Chart 1: Analysed by vallijat007, published on TradingView, April 17, 2025

The MACD indicator reveals a mild trend; consolidation is indicated by slow momentum and an earlier death cross. Renewed upward movement could be set off by a bullish crossover; however, verification is required. Generally speaking, ETH seems to be in a range-bound phase, whereby bulls defend support but have difficulty surpassing resistance. A decisive action above $1,680 could turn sentiment bullish; however, a breakdown below $1,560 might cause a test of more bottom-level support. Ethereum coils for its next move; therefore, one must be patient.

Turning Point or Trend Break? 

Ethereum is in a tough spot: market share is down, momentum is weak, and rivals are closing in. But the story isn’t over. With key upgrades ahead and possible regulatory green lights for Ethereum staking, ETH still has a shot at turning sentiment around. The network’s fundamentals haven’t vanished; they’ve just been overshadowed. Upcoming crypto news on staking approvals and network developments could change the narrative. If the Ethereum price can hold support and deliver on its roadmap, this downturn could end up looking like a reset, not a retreat.

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