Ethereum Price Forecast – ETH Setup Hints at Possible Rally to $1700

Highlights:

• Ethereum could break bullish if bulls push through the intra-day high of $1687.7
• A rally could be triggered by news that the US has backtracked on tariffs
• Approval of Ethereum ETF options could add to the momentum

Ethereum (ETH) has enjoyed a sharp rebound, rallying by 6.61% in the last 24 hours to its current price of $1594.01. Ethereum trading volumes are also on a rebound, up 19.13% to a high of $33.42 billion. This change shows that positive sentiment is coming back to Ethereum. Ethereum’s rally has started following Trump’s decision to freeze the reciprocal tariffs for 90 days. This move has reinvigorated risk-on assets, including equities and cryptocurrencies like Ethereum. 

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SEC Approves Options on Spot ETH ETFs – Bullish Long-Term

Besides the tariffs pause, there is bullish news around Ethereum itself. On April 9, the SEC approved options trading for Bitcoin’s ETFs and Ether. BlackRock’s iShares Ethereum Trust, Bitwise ETHW, Grayscale, and Fidelity products now offer options on Ether ETFs.

JUST IN: 🇺🇸 SEC approves options trading on spot Ethereum ETFs. pic.twitter.com/OJ8ug1Qhwl

— Crypto India (@CryptooIndia) April 10, 2025

Expectedly, this significantly broadens Ethereum’s appeal to institutional investors. This offer allows sophisticated institutional clients to execute more sophisticated risk management strategies. The SEC argued that these options not only provide effective hedging for Ethereum exposure but would also serve as a relatively lower-cost investing tool.

Options trading could also catalyze Ether ETF inflows. BlackRock’s ETHA lags behind Bitcoin ETFs, taking in only $1.93 billion in net assets, a far cry from $4.27 billion. This represents a staggering 59% decline starting from January. If Ether options can flip institutional demand in ETFs seeking Ether capital, BlackRock would experience flexible capital inflows and could push Ethereum higher.

Additionally, other ETF submissions claiming staking abilities have come up. Cboe has proposed the 21Shares Core ETH Staking ETF alongside those made by Fidelity and Bitwise, who all lack direct Ether ETF lines. Approval for these submissions could trigger a surge in demand for Ethereum by institutions seeking yield. 

Community Sentiment Still Divided on Ethereum, But Bulls Emerging

Despite all these factors, some investors are not yet bullish on ETH. Frustrated comments have emerged from the Ethereum community, especially now that Ethereum is trading at the same prices it did years ago. 

However, the pessimism is not shared by the whole community. Some analysts have recently shifted focus towards Ethereum and consider it undervalued. They have noted that it is the first time Ethereum’s market price has traded below the realized price since 2020. This is typically regarded as a crossover bullish momentum level, suggesting Ethereum may be trading at a discount against its intrinsic value in the market.

The Market Value to Realized Value (MVRV) ratio further supports this thesis. Analysts argue that Ethereum’s MVRV ratio has entered the opportunity zone. This level is historically known to provide prime buying conditions for long-term investors.

The MVRV ratio for short‑term holders (STH) over a 155‑day rolling window (blue line) and its statistical bands: mean ± 1 σ (green and pink) and the mean itself (dashed).

What do we see now?

STH MVRV has fallen to roughly 0.85, meaning short‑term holders are, on average,… pic.twitter.com/RKgqPr567c

— Axel 💎🙌 Adler Jr (@AxelAdlerJr) April 7, 2025

Technical Analysis – ETH Likely Headed for A Rally

After the initial rally on tariff pause news, Ethereum entered a consolidation period, forming a bullish flag pattern. If bulls take control across the market and Ethereum breaks out of this consolidation, the key level to watch would be the 24-hour high of $1687.7. 

A rally through this rally could see Ethereum rally to $1700 or higher in the short term. On the flip side, if the $1588.9 support is lost, a correction to the week’s low of $1416.9 could follow. 

Recap

It is too early to tell whether this time constitutes the start of a prolonged recovery phase or another short-lived respite. That being said, an improved regulatory environment, the expansion of institutional-grade products, and upcoming technical upgrades have rendered ETH more favourable than ever for a rebound.

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