Ethereum (ETH) price sees correction, but analysts remain optimistic

Despite the recent market correction, leading crypto analysts like Michaël van de Poppe have optimistic expectations for the Ethereum price.

The Ethereum price has seen some correction but still demonstrates strong performance on longer timeframes. Several analysts are still optimistic about ETH’s future and indicate that the recent drop could provide a buying opportunity.

Analysts are bullish on the Ethereum price

Despite the recent market correction, leading crypto analysts like Michaël van de Poppe have optimistic expectations for the Ethereum price. Price targets also suggest a possible rally to $4,000. The ETH price performance is still positive, with 57.2% returns in the past month.

$ETH goes towards the 'buy the dip' range.

Sub $2,400 is the area where you'd want to accumulate before the next run towards $4,000. https://t.co/m8P7JzM7zG

— Michaël van de Poppe (@CryptoMichNL) May 19, 2025

Analyst Michaël van de Poppe noted what he calls a “buy the dip” region. He indicated that prices below $2,400 provide an accumulation opportunity “before the next move towards $4,000.” This perspective sets the current correction as a dip and not a reversal of the overall trend.

Another analyst known as Titan of Crypto emphasized Ethereum’s technical strength. The analyst noted, “From an Ichimoku perspective, as long as the Kijun holds, ETH’s uptrend structure remains intact. No need to overthink it.” This technical analysis suggests the fundamental structure of Ethereum’s bull run remains unbroken despite short-term price fluctuations.

ETH whales begin accumulation

Crypto Rover pointed to on-chain data showing accumulation by large holders. He stated that Ethereum whales that hold between 10K and 100K ETH are accumulating heavily. This whale activity suggests institutional and large investors may be using the current correction as an opportunity to increase their positions.

Ethereum whales holding between 10K and 100K $ETH are accumulating heavily.

I’m following the smart money on this one! pic.twitter.com/XHak17Luq3

— Crypto Rover (@rovercrc) May 19, 2025

On-chain data reveals conflicting behaviors among Ethereum’s largest holders. While some whales are actively accumulating, others have chosen to exit positions at current levels.

Analytics platform Lookonchain reported, “An ETH whale capitulated and sold 7,000 ETH ($16.88 million) at a loss a few hours ago.” This particular whale had previously withdrawn 13,479 ETH ($48.82 million) from the top crypto exchange Binance when the Ethereum price was trading higher.

This ranges up to $3,622 per ETH, between December 5, 2024, and January 13, 2025. Despite this substantial sell-off, the whale “still holds 6,479 ETH ($15.66M), with a total loss of $16.28M”.

In contrast, analyst Crypto Rover’s observation suggests many large holders view the current price levels as an opportunity rather than a reason for concern. Interestingly, this accumulation and prediction happen as the Ethereum Foundation announces a Trillion Dollar Security initiative.