Coinspeaker
Ethereum Price News: Where Is ETH Heading Next as DEX Volumes Tanks 44%?
Ethereum
ETH
$2 030
24h volatility:
4.5%
Market cap:
$248.60 B
Vol. 24h:
$20.57 B
price has been subject to one of the most brutal corrections with a more than 40% drop since the beginning of the year. With ETH consolidating around $1,950 levels over the past week, on-chain data gives mixed signals leaving analysts divided over the next movement.
Furthermore, with a weekly drop of 44% in the decentralized exchange (DEX) activity on the Ethereum blockchain, investors are waiting on the edge of their seats.
Ethereum Price in a Make-or-Break Situation
While assessing the Ethereum price chart, crypto analyst Mags called it “one of the worst charts of all time”. The analyst added that ETH attempted to break above the key range high of $4,000 three times during this market cycle but failed on each occasion.
But following the recent rejection, ETH price has fallen below both the mid-range level and the upward-sloping trendline support that originated from its cycle low, as shown in the below image.
The analyst also cited two possible case scenarios for the Ethereum price trajectory moving ahead.
- Bearish Scenario (Blue): The price continues its downward trend due to a lack of significant support, potentially falling to the range low of $1,060.
- Bullish Scenario (Green): Ethereum reclaims the $2,500 level and rallies back to $4,000 for another attempt at a breakout.
However, Mags noted that, based on current technical indicators, the bearish scenario appears more likely.
Ethereum DEX Activity Drops Over 44%
As per the data from DeFiLlama, the decentralized exchange (DEX) activity on the Ethereum blockchain network has tanked by 44% over the past week. This has also impacted other Layer-2 solutions on Ethereum like Base, Arbitrum, and Polygon.
As shown in the above image, several Ethereum competitors have also faced a drop in decentralized exchange (DEX) activity. Solana’s DEX activity dropped by 35%, while SUI experienced a 17% decrease. In contrast, BNB Chain bucked the trend with a 38% increase in weekly trading volume.
ETH Whale Accumulation Remains Strong
Large Ethereum (ETH) holders have been steadily increasing their positions since late 2024, continuing into early 2025. Data from blockchain analytics platform Nansen reveals that while smaller ETH holders have been trimming their balances, whales holding between 10,000 and 100,000 ETH have expanded their holdings by more than 12% in the first months of 2025.
This accumulation suggests a growing confidence among major investors despite broader market fluctuations. “The 10k-100k segment saw over a 12% growth in 2025 alone on their total ETH balances whereas the 1k-10k segment saw a 3% increase in their holdings YTD,” it noted.
Ethereum Price News: Where Is ETH Heading Next as DEX Volumes Tanks 44%?
