Ethereum Price at a Pivotal Crossroad – Will It Reach $1500 or Soar to $2500?

Highlights:

• Ethereum is at a make-or-break point as the price starts to consolidate
• A breach of the $1848 support could trigger a drop to $1500
• Negative news about Ethereum leadership issues could trigger a selloff

Ethereum (ETH), like the rest of the market, has moved a little today. At the time of going to press, Ethereum was trading at $1910.99, up by 0.94% in the day. However, like Bitcoin, Ethereum trading volumes are on the rise in the day. Volumes have shot up by 59% in the day to stand at $10.24 billion. 

This could be an indicator that traders are increasingly active and are looking forward to a major price move in the short term. Such a heightened level of activity could be linked to the upcoming FOMC meeting on Wednesday, March 19. However, there are indications that Ethereum could be headed lower, at least in the short term.  

Bitcoin Likely Headed Lower – Bad for Ethereum Price

Like all other cryptocurrencies, Ethereum trades in the overall direction of Bitcoin. At the moment, Bitcoin is showing signs of a possible bearish breakout from a symmetrical triangle. This could be an indicator that bears could be about to take control and potentially push Bitcoin to prices below $78k. This could trigger a correction across the market, including Ethereum. For Ethereum, the correction could be much bigger, due to the fact that it has been weak even when altcoins were doing well. 

Ethereum Team Messaging Sends Bearish Signals

Besides the bearish pressure Ethereum is facing from the broader market, things are not looking good internally either. An Ethereum ex-engineer has revealed that the number two cryptocurrency could be suffering due to a lack of clear leadership. He noted that this lack of leadership has seen any network upgrades take much longer than they should. 

This is why I left the Ethereum Foundation.

There is a lack of a clear and cohesive vision for Ethereum and EVM, making progress in EVM impossible.

I've seen EVM changes repeatedly shut down because they don't check a certain box. The issue is that everyone has a different… https://t.co/TkAngYnycX

— Hari (@_hrkrshnn) March 14, 2025

He also added that if things continue as they are at the moment, Ethereum may have a hard time keeping up with its competitors. Such messaging, while a call to action for those involved, could drive fear in investors and trigger more selloffs. That’s because of a macro-environment that is increasingly bearish on high-risk assets. That said, some factors could help drive Ethereum higher in the short to medium term, especially if there is a Bitcoin rebound. 

Ethereum Whales Loading Up Despite Price Weakness

One of these factors is the fact that whales are loading up on Ethereum. Data shows that in the past week, cryptocurrency whales have loaded up Ethereum worth more than $800 million. This is a big deal in two ways.

First, the more whales load up, the higher the chances that they can positively influence the price. Second, it sends the right signals to retail investors who help drive FOMO during market rallies. The impact of whale buyers could be amplified by positive price action across the cryptocurrency market. Such price action could see Ethereum rally back to prices above $2k in the short term. 

Whales have bought more than 420,000 #Ethereum $ETH in the last five days! pic.twitter.com/ZFF57gbq0e

— Ali (@ali_charts) March 14, 2025

Rate Cuts Could Trigger an Ethereum Rally

An Ethereum rebound could also be amplified by the Fed’s decision to cut rates. If they cut rates, it could help drive more investors towards high-risk assets, including Ethereum, which is still undervalued compared to other cryptocurrencies that had pumped back in 2024. 

Technical Analysis – Ethereum Price Consolidating After Months of Correction

From the charts, Ethereum is starting to consolidate between the $1848.0 support and $1930.6 resistance. This could be an indicator that bears are losing momentum, and buyers are starting to enter the market. 

If this consolidation is followed by a rally through the $1930.6 resistance, Ethereum could rally to prices as high as $2500 in the short term. However, if bears regain control and the $1848.0 support gives way, Ethereum could drop to a low of $1500 in the short term.