Ethereum's price is at a critical level, trading around $1,902.90, representing a 14.96% decrease. This places the cryptocurrency at the lower boundary of its long-term symmetrical triangle.
Current State of Ethereum's Price
In 2022, Ethereum experienced a sharp decline, reaching the lower ascending trendline of its triangle. In 2023, the price briefly rose, attempting to break through resistance but failing to regain previous highs. By 2024, it fell again, returning to the support level. As of March 17, 2025, Ethereum is trading at $1,902.90, a decline of 14.96%. This places it at the lower support level, raising questions about its next moves.
Standard Chartered's Forecasts
Standard Chartered has revised its 2025 Ethereum price forecast. Initially set at $10,000, the forecast is now reduced to $4,000, representing a 60% decrease. This adjustment is due to Ethereum's declining market dominance, notably with the rise of Base, which has already cut $50 billion from Ethereum's market cap.
Ethereum's Triangle: What's Next?
Ethereum's symmetrical triangle is tightening, suggesting a potential breakout or breakdown is imminent. As the formation nears its completion by 2029-2030, decreasing price volatility indicates that a significant move might be on the horizon. If ETH breaks below the uptrend line, bearish sentiment could intensify. However, a breakout above resistance might trigger a new bullish trend.
Ethereum is at a pivotal stage in its market trajectory, and its next moves are contingent upon the strength of the symmetrical triangle. The potential for significant movement requires market attention to discern whether the next move will be upward or downward.
