- Ethereum’s price nears a critical point, trading at $1,902.90, down 14.96%, testing the lower support of its long-term triangle.
- Standard Chartered slashes its ETH 2025 forecast from $10K to $4K, citing Base’s rise and a $50B market cap cut.
- With ETH’s symmetrical triangle tightening, a major breakout or breakdown looms as volatility fades toward 2029-2030.
According to CryptoBusy, Ethereum’s price movement is approaching a decisive moment. 2018 to 2030 data shows Ethereum’s long-term market behavior. From 2019 to the end of 2020, the cryptocurrency was largely steady. But in 2020, ETH soared beyond the triangle’s rising support, hitting a record high close to $5,000 in late 2021. This peak established the upper resistance of the symmetrical triangle.
Ethereum’s Decline and Market Reaction
In 2022, Ethereum made a precipitous fall, reaching the lower ascending trendline of the triangle. In 2023, ETH moderately rose, attempting to break through resistance but failing to regain highs. Once more, in 2024, Ethereum’s price fell, returning to the ascending support. At present, as of March 17, 2025, ETH is trading at $1,902.90, a decline of 14.96%. The decline places Ethereum at the lower support trendline, leaving one wondering what its next move will be.
Besides, Standard Chartered Bank has also revised its 2025 Ethereum price estimate. From $10,000, the bank now puts the estimate at only $4,000, a drastic 60% decrease. The lowered estimate is founded on Ethereum’s decreased market dominance, particularly by virtue of the increased usage of Base. Base is estimated to have already reduced Ethereum’s market cap by $50 billion.
Ethereum’s symmetrical triangle formation tightens suggesting a breakdown or breakout is imminent. With the apex nearing 2029-2030, decreasing price volatility suggests a major move is around the corner. If ETH breaks below the uptrend line, bearishness could get stronger. But a breakout above resistance can trigger a new bull run.
