Key Insights:
- ETH price formed a double bottom chart pattern, hinting at potential upside movement.
- A reversal is likely if it avoids creating a lower low below the $1800 support level.
- A whale bought 4,100 ETH worth $7.32M at $1,785. At the same time, since March 26, the whale has bought 33,441 ETH.
Ethereum price prediction continued to show negative sentiment from retail traders. The whales and chart patterns provided some optimism to holders amidst significant losses. These signals hinted at potential recovery shortly.
Ethereum Price Prediction: Can the Double Bottom at $1800 Defend ETH Price Fall
Ethereum’s daily chart formed a double bottom pattern in the $1,800 zone. The key price level attracted purchasing pressures, which aimed to block deeper price drops.
ETH could gain bullish traction by breaking out above $2,150 and holding above $1,800. Then, an increase of $2,500 could follow to affirm the reversal pattern.
Ethereum price prediction suggested a potential decline if it cannot maintain the $1,800 support level. This scenario could lead to the formation of a new price floor.
A continued bearish momentum would be confirmed if ETH closed below $1800. This would invalidate the potential double-bottom reversal pattern and thus intensify selling activities.
A breach below this level would result in a slide to the $1,650 – $1,500 major support area. There, the buying interest could be revived.
Higher resistance needed to be broken for the double-bottom pattern to validate an upcoming trend change. Prices above $2,150 indicate the beginning of a considerable market turnaround.
Any price movement falling under $1,800 would extend the ongoing selling pressure in the market.
How Whale Behaved at This Key Level
Highlighting the significance of this level, a whale invested in Ethereum near $1,785. This coincided with the formation of a potential double-bottom pattern.
The whale invested $7.32 Million worth of 4,100 ETH in addition to its acquisitions on March 26. This amounted to 33,441 ETH valued at $65.5 Million for $1,959.
The whale’s spending at $1,800 showed their belief in the long-term trend since double bottoms regularly indicate bullish trends.
Whales have historically bought assets ahead of price surges, as seen in the 2021 Compound transaction of $1.3 Billion. This aligned with Ethereum’s new highs, hinting at a potential rally during that period.
Such concentration of ETH assets offered potential growth opportunities but required further whale participation. Nonetheless, market downturns could lead to increased selling pressure.
Per Ethereum price prediction, this might lead to an ETH price of $1,500 if institutions limit their investments during this period. Despite being a vital indicator at the time, the whale’s activities couldn’t predict the market’s path.
What’s ETH Price Fate for April?
However, ETH in the past months showed investor concern following its four consecutive months of losses from December 2024. This led to a close with a 9.75% loss.
January closed with a monthly return decline of -1.28%. This was followed by significant losses of -31.95% in February and -18.69% in March.
The returns chart indicated unabating bear pressure in April 2025 with a -1.94% return. The negative returns of April revealed the ETH could see its fifth straight losing month. Despite the market downtrend and the overall correction, ETH could perform decent in April.
The market trend suggests another red month in April. However, positive events and investor mood shifts could change this anticipated order.
However, Ethereum owners could eventually gain benefits if they kept faith in its future success. ETH has the potential for strong growth if beneficial catalysts emerge or market conditions improve in April.
The time series data pointed to further bearish movements. Meanwhile, the cryptocurrency market volatility left a possibility for fortune to change for ETH through April.