Ethereum Price Now Flashes First Death Cross Since 2022: Is Another Crash Coming?

If Jerry Seinfeld invested in the Ethereum price, it would go like this: “You ever buy Ethereum?”

*audience chuckles*

“You spend all weekend reading whitepapers, learning about gas fees, and you’re like: This is it. This is the future. We’re going to flip Bitcoin any minute now!”

*audience bursts out in uncontrollable laughing*

[Cue Seinfeld Music]

Ethereum’s early lead over Bitcoin this quarter has faded. Now trading under $2,500, ETH faces a key inflection point; here’s where the price is going next:

Ethereum’s MVRV Ratio Signals Modest Optimism

Ethereum’s market-value-to-realized-value (MVRV) ratio stands at 1.16, slightly above neutral territory. While this indicates holders are in mild profit, ETH remains constrained by a key descending trendline dating back to 2018.

The story here is that altcoins don’t perform well unless the Fed cuts rates and turns the money printers on.

Adding to the challenge, Ethereum has to conquer a critical resistance level at $2,575. A strong breakout above this threshold could push prices toward $2,850, but without this momentum, a pullback to the $1,750 support zone could be on the horizon.

Analyst Burak Kesmeci notes, “The visible range volume profile highlights strong historical interest between $2,100 and $2,300, making this zone critical for Ethereum’s next move.”

RECORD amount of $ETH shorts

Ready for the massive short squeeze pic.twitter.com/X8VUGfiPbc

— Quinten | 048.eth (@QuintenFrancois) June 27, 2025

Additionally, Sharplink Gaming picked up nearly 6,000 ETH through Galaxy Digital, dropping $14.45M despite recent volatility.

It’s a clear bet on Ethereum’s long-term upside if it can finally break out.

Geopolitics and Macroeconomic Influences Affecting $ETH

Not to be forgotten, but war fears between the U.S., Iran and Israel wiped $701M from crypto in a day, but Bitcoin and Ethereum rebounded fast on ceasefire news. Weaker oil and dollar trends are adding lift, while ETF inflows point to steady institutional demand.

It’s important to remember that the conflict could be far from over as reports are looming that the U.S. didn’t destroy Iran’s nuclear facilities and may have ignited another long-term war in the Middle East.

BREAKING: Israeli Defense Minister Israel Katz says all enriched uranium in Iran not destroyed, US and Israel to ask Iran to hand it over. -ABC

— Dominic Michael Tripi (@DMichaelTripi) June 26, 2025

Unity Wallet COO James Toledano summed it up: “Lower oil, rate cut expectations, and ETF flows are driving this bounce.”

What’s Next for Ethereum Price?

Two signals will decide whether Ethereum rallies or stalls. First, it needs to crack $2,575 and hold. Then it has to break its long-term MVRV trendline. Do both, and $2,850 comes into view fast.

It’s crazy to think that I, like some of you, held Ethereum at $4,000+ and that was nearly four years ago at this point. $ETH holders have to be feeling the pain.

[Cue that Seinfeld music one more time, Johnny!]

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