Ethereum (ETH) Price: Is ETH About to Break Out or Break Down? Analysts Split on Next Move

TLDR

• A dormant whale wallet sold 27,585 ETH worth ~$44.84M after seven years of inactivity
• Traders are watching $1,500 as the key support level for ETH’s market structure
• Ethereum co-founder Joseph Lubin says ZK proof upgrades will speed up cross-network transfers
• ETH trades around $1,665, down over 30% in the past year
• Ethereum still holds over 50% of DeFi total value locked despite growing competition

Ethereum (ETH) is holding around $1,665 after a week that included a major whale sale, developer upgrade news, and fresh analyst commentary on key price levels.

A dormant wallet, flagged by blockchain tracker Lookonchain, came back to life after seven years. The wallet, identified as 0x0965, sold 27,585 ETH over two days at an average price of roughly $1,625. The total sale came to about $44.84 million, with an estimated profit of over $39 million.

At ETH’s peak, the wallet’s unrealized gain had climbed above $130 million.

Crypto analyst Ali Charts weighed in on where ETH could go from here. He pointed out that ETH is trading inside a key volume zone between $1,584 and $1,683, where nearly 4 million tokens have changed hands. Ali said holding this range opens the door to supply clusters at $1,980 and $2,079. Losing it, however, could push ETH down to demand zones at $1,237 or even $1,089.

Separately, analyst Ardi said the $1,500 level is the one price that matters most over the next four months. He noted that ETH has held above $1,500 during every major pullback since the 2022 bear market ended.

Upgrade Plans Target Speed and Interoperability

Ethereum co-founder Joseph Lubin recently outlined upgrades aimed at making Layer 1 and Layer 2 networks work together more smoothly. The plan involves zero-knowledge proofs, which would allow faster token transfers across different Ethereum networks.

Lubin said the upgrades could reduce reliance on blockchain bridges, which have been tied to several security incidents in the past. The changes would also allow liquidity to flow more freely across the ecosystem.

He added that banks, financial companies, DeFi projects, and AI services could benefit once the upgrades are complete.

Ethereum’s upcoming Glamsterdam upgrade, expected later this year, is also set to improve scalability and lower transaction fees.

Ethereum Still Leads DeFi and Real-World Asset Markets

Despite a 30% price drop over the past year, Ethereum still accounts for more than half of all assets on DeFi platforms. It also holds roughly half of all stablecoins and real-world assets in circulation.

Major institutions including JPMorgan Chase are using Ethereum to launch tokenized products. The network hosts nearly 2,000 decentralized applications and has recorded no downtime in over a decade.

ETH’s current price sits near $1,665, with traders closely watching the $1,584–$1,683 volume zone for the next directional move.

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