Ethereum (ETH) Price Action Analysis of April 12th, 2025

The market began strongly, rising consistently inside an upward channel before peaking at $1,590, as shown on the ETH Price 5-minute chart.

Bitcoin maximalist Samson Mow is known for his strong takes, and he’s not holding back on Ethereum (CRYPTO:ETH) even after the “crazy 270% increase of Bitcoin (CRYPTO:BTC) since January of 2022” has made some take notice.

The CEO of JAN3 has been vocal and clear about his thoughts on the ETH price and whether it reflects the real underlying fundamentals of the project, especially with ETH mostly “idling” while Bitcoin continues its run. Both are also dealing with uncertainty from the macroeconomic environment, which makes the discussions surrounding the value of ETH all the more interesting.

What Happened: Mow’s criticism centers on Ethereum’s supply structure. A massive portion of ETH was premined, leaving 72 million tokens in circulation before public mining even began. This high initial supply, in contrast to Bitcoin’s gradual release through mining, skews the Ethereum valuation, according to Mow.

“If there were only 21 million ETH, like Bitcoin, then ETH would be worth $9,300 now. But since there are 125 million ETH and 72 million were pre-mined before public mining even began, then the true value of ETH is $2,100,” Mow said in a recent post.

The CEO went on to add that the gap between the two leading cryptocurrencies is widening, further bolstering his views on how much ETH misaligns from fundamentals.

“The gap between Bitcoin and altcoins is widening rapidly. As Bitcoin continues its climb, the lack of innovation and misaligned fundamentals in altcoins will become increasingly apparent,” Mow said.

External Factor Weighs On ETH

In addition to the criticisms leveled by figures like Samson Mow, a Bitcoin maximalist, on topics like Ethereum’s high initial token supply and the implications for its valuation, external factors are also impacting the ETH price. For instance, due to global trade tensions, ETH dropped to a multi-year low of $1,380 before quickly bouncing back to $1,680 after the U.S. announced a temporary tariff hold. This rapid price movement demonstrates that the broad global economy has a deep impact on ETH prices.

With that in mind, let’s take a look at some price analyses to understand where ETH may be going next.

ETH Price Action Analysis of April 12th, 2025

The market started out powerfully, rising consistently inside an upward channel before reaching its peak at $1,590, as shown on the ETH Price 5-minute chart. Even though that price increase was noteworthy, it didn’t last long because ETH fell back immediately after encountering resistance, indicating that sellers are still defending that level. From there, ETH prices have been moving sideways in the $1,540 to $1,580 range as they continue to battle to break past the barrier level.

Chart , Analyzed by Alokkp0608, published on April 12th, 2025

Buyers intervened several times to prevent the price from dropping much lower, and that $1,540 range has served as a stable floor. However, the upward momentum appears to have eased for the time being despite that support.

The RSI indicates powerful but brief bullish bursts because it has repeatedly entered the overbought zone during the session. Prior to the appearance of a golden cross on the MACD, there was a definite oversold dip that caused a respectable bounce. Momentum has been fluctuating ever since, with a succession of death and golden crosses taking place.

With a rising histogram and a new golden cross, MACD is currently once again in favor of the bulls. Although caution is necessary because the RSI is back over 70, the rally may have additional legs if buyers maintain the pressure.

Ethereum: A Final Note

As criticism from figures like Bitcoin maximalist Samson Mow continues, regarding topics like the implications of high initial token supply and how it skews the Ethereum valuation, the current price action suggests positive technical momentum. Recent technical signals are showing potential for Ethereum upside.

With strong support around $1,540 and a golden cross emerging on the MACD, Ethereum is nearing the breaking point of resistance at $1,590. The price moving sideways recently shows the fight between buyers and sellers, but the bulls are still in control. Even with skepticism around the value of ETH continuing, the outlook remains positive, and if buyers keep pushing for compression on the upside, another test of highs is possible in the future.