With a 10% drop over the past week, Ethereum price is currently testing crucial support levels followed by a heavy ETH whale selloff taking place

Despite this, some market analysts believe that ETH will soon start outperforming Bitcoin. Popular analyst Michael van de Poppe stated that altcoins will soon start gaining momentum as Gold shows signs of topping out.

Ethereum price has dropped by 10% over the past week and is now testing crucial support levels following a heavy ETH whale selloff.

While ETH has bounced back from the support of $1,800, analysts are weighing in on how low it can go further from here.

Some analysts believe that the largest altcoin is currently facing a make-or-break scenario.

Ethereum Price – A Do or Die For Investors?

With a 44% drop since the beginning of 2025, Ethereum price has been lagging behind and is strongly in a bearish grip. The monthly chart reveals that ETH has been trading inside a well-defined channel since 2018, with clear ‘Top Level’ and ‘Bottom Level’ boundaries.

The price is currently testing what analysts have labeled the ‘Make or Break Level’ – a mid-channel resistance zone that has historically determined significant price movements. As we can see from the above image, ETH is trading in a critical support range.

If the ETH price bounces from here, the road to $20,000 and above is open for the altcoin. However, if it fails to hold this support, it can also crash under $1,000 levels, all the way to $610.

For the first time in history, Ethereum has ended all three months of Q1, in negative territory.

According to analysts, Q2 would be better. Our Ethereum price prediction shows that ETH would continue to flirt around $1,880 levels over the next month.

“$ETH just had the worst Q1 in history.

Q2 is where it all turns around!”

ETH Whale Selloff

Crypto analyst Ali Martinez reported a 63.8% decline in Ethereum whale activity, with large transactions dropping significantly since February 25.

Over the past two weeks, whales have sold 760,000 ETH, signaling reduced institutional or large-holder participation in the network.

However, some market analysts believe that ETH will soon start outperforming Bitcoin. Popular analyst Michael van de Poppe stated that altcoins will soon start gaining momentum as Gold shows signs of topping out.

“If Gold starts to correct in this month, likely ETH starts to outperform Bitcoin,” noted Poppe.

Ethereum ETF Flows Dry Up

Inflows into spot Ethereum ETFs have also dried up amid poor price performance. The net inflows since its inception have slipped to $2.497 billion, showing waning interest in the asset class. This is down from the peak of $3.042 billion on February 25.

Experts say that Ethereum’s struggles can be partly attributed to its lack of leadership and lagging innovation in the Web3 space. The upcoming Pectra upgrade, which is designed to improve wallet functionality and network efficiency, is tentatively planned for April 30, 2025, according to core developers.