Ethereum price plunges, Standard Chartered’s forecast drops dramatically! What Happened?

Jakarta, Pintu News – The price of Ethereum (ETH) is currently experiencing a sharp decline, triggered by various factors both from within and outside. The recent decision by Standard Chartered to downgrade its Ethereum price prediction is a particular highlight, given that the bank previously predicted Ethereum could reach $10,000. Now, with a series of negative news stories, Ethereum’s future looks bleak.

Ethereum Price Drop

In recent times, Ethereum (ETH) has continued to show a downward trend. Market analysts predict that this decline will deepen. Currently, the Ethereum price is hovering around $1,930, and shows no significant signs of recovery. The Moving Average Convergence Divergence (MACD) indicator shows broad buying weakness, with sellers dominating the market.

Currently, Ethereum price is consolidating below the 5-day and 200-day moving averages. Traders are keeping a close eye on the possibility of a further breakout or rejection. LVelarde, a market analyst, states that the Ethereum price is moving in a descending channel, which signals a possible continuation of the consolidation. If Ethereum price drops below $1,800-$1,850, this could reinforce the existing bearish trend.

Also Read: Bitcoin Miner Sales Still High, On-Chain Data Reveals Bearish Trend (3/19/25)

Standard Chartered Prediction Revision

The Ethereum (ETH) community was shocked by Standard Chartered’s decision to lower its Ethereum price prediction for 2025 from $10,000 to just $4,000. According to the analyst, Ethereum will continue to underperform ahead of its 10th anniversary celebration.

This decline was referred to as a “mid-life crisis” with the launch of layer 2 Base reducing Ethereum’s market capitalization by $50 billion. In addition, the upcoming Converge blockchain is expected to take a chunk out of Ethereum’s market capitalization.

Experts suggest radical changes that could be made by the Ethereum Foundation, such as the imposition of a tax on layer 2, to address this situation. Meanwhile, Ethereum ETFs have also failed with 21Shares’ liquidation of the Bitcoin (BTC) and Ethereum Futures ETFs.

The Impact of Pectra Activation and the Future of Ethereum

Although there are many challenges, the activation of Pectra on the mainnet could trigger a new rally for the Ethereum price. Experts predict that this could push Ethereum’s price to $5,000. However, there is still a lot of uncertainty surrounding the future of Ethereum, especially with the increasing competition from other blockchains.

The cryptocurrency market is highly dynamic and full of uncertainties. While Ethereum is still one of the largest crypto assets, the challenges faced today require adaptive and innovative strategies from the Ethereum Foundation to maintain its relevance in the market.

Conclusion

With all the challenges it faces, the future of Ethereum (ETH) is uncertain. However, with the right strategy and adaptation to market changes, Ethereum still has the potential to recover and return to a growth path. Investors and market watchers should continue to monitor these developments closely.

Also Read: Ethereum (ETH) has the potential to surge sharply, analysts reveal similarities with 2020 trends

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Coingape. Ethereum Price Remains in Deep Correction as Standard Chartered Slashes ETH Target by 60%. Accessed on March 19, 2025
• Featured Image: Generated by AI