Two weeks have passed since Ethereum (ETH) started trading consistently at $1,800, evoking conflicting responses from analysts and investors. While long-term holders may find this standstill frustrating, others see it as a sign that Ethereum’s protracted downward trend may be coming to an end.
$1,800 Support or Resistance Break Downtrend?
Ethereum jumped from $2,400 to $4,000 after Donald Trump won the U.S. election in November. Motivated by political passion, this rally did not last long. Ethereum experienced a severe retracement after Trump took office in January, falling to $2,600 by the beginning of February.
However, the fix didn’t end there. ETH had dropped below $1,900 by the middle of March, and it dropped even lower to under $1,500 in the first part of April. The price did, however, make a significant comeback in the second half of April, rising back above $1,800, an encouraging development that suggests the bearish impetus may have subsided.
The Fundamental Issue with Ethereum
The overvaluation of Ethereum in prior market cycles, especially between 2022 and 2024, is one of the main causes of its price drop. Ethereum’s price increased in relation to Bitcoin after switching to Proof-of-Stake in September 2022; it went from 0.054 BTC in June to 0.080 BTC by that same month. However, this increase was not long-lasting. By 2023, ETH has fallen below its 2022 lows to 0.050 BTC.
The SEC’s anticipated and approval of spot ETH ETFs in 2024 followed a similar approach. ETH/BTC surged to 0.055 BTC due to the euphoria, but after ETFs were introduced, reality set in. Intense market liquidations caused Ethereum to plummet to 0.034 BTC and then as low as 0.019 BTC, indicating a sharp drop in the Cryptocurrency Impacts value relative to Bitcoin.
Growing Competition Solana Takes Center Stage
The increasing dominance of Solana, particularly in the memecoin ecosystem, is Ethereum’s second significant obstacle. In the past, Ethereum was the preferred platform for introducing new tokens, which raised ETH’s demand as gas prices rose. That situation has changed recently.
Ethereum’s position has been severely weakened by Solana’s faster and less expensive transaction architecture, which has drawn the majority of new token offerings. Notably, Donald Trump accelerated this trend by launching his memecoin on Solana just days before his inauguration. Because of the relocation of meme initiatives, ETH now has fewer practical applications, which affects its usefulness and, eventually, its value.
At $1,500, has Ethereum reached its lowest point?
Ethereum’s recent price behavior points to a possible turning point despite the pessimistic outlook. ETH maintained some stability after falling progressively from $4,000 in mid-December 2024 to a low of $1,500 in April 2025. The market might have found a short-term bottom based on the lateral movement around $1,500 and the subsequent comeback to $1,800.
The beginning of a new accumulation trend could be indicated by the current sideways consolidation near $1,800. It’s too soon to declare a trend reversal, though. Considering that a number of analysts think the decline to $1,500 was an overcorrection, another positive breakthrough is feasible. That price confirms Ethereum’s potential as a potent support zone by matching its 2023 bottom.
What Will Happen to Ethereum Next?
It’s unclear if ETH will keep consolidating or reenter a bear market. Market watchers concur that the late-April recovery is encouraging, though. Ethereum Price might pave the way for a more long-lasting rebound if it can hold support above $1,800.
Keep ahead of the curve by anticipating Ethereum’s next move and being prepared to take action once the trend is confirmed. Register now to receive professional analysis and real-time crypto insights.
