Ethereum (ETH) Surges Past Key Resistance as Price Targets $1850

ETH/BTC trading pair maintained a position close to 0.01835, one of its lowest points during its multi-year history.

Ethereum (ETH) traders have closely followed large holders making major on-chain moves this week.

The cryptocurrency rose above key resistance at $1,620 to hit a high of $1,705 earlier before trading toward $1,800.

Market participants questioned whether this momentum could push Ethereum to $1,850. However, recent whale transactions and on-chain activity may influence the direction of the price in the short term.

Ethereum Surges Past Key Resistance as Price Targets $1,850

Ethereum started a strong bullish movement as it exited its trading range at $1,555 to $1,620. The price exceeded resistance levels to reach its new highest point at $1,705 during this short period.

The upward movement came after Ethereum traded sideways for several days, thereby developing support to increase.

After hitting $1,705, the Ethereum price met resistance near $1,720 and started consolidating above the $1,693 level.

Professional analysts shared charts indicating a bullish continuation was possible if Ethereum held support above $1,693. A breakdown below this point could open the door for a retest of support zones at $1,660 and $1,620.

Those observing the market closely also noted that volume levels were crucial to validate enduring buyer participation.

If the price surpasses $1,720, it will boost the potential for prices to rise toward $1,850, according to professional analysts.

Analyzing the ETH/BTC price pair added complexity to the study. The relative value of Ethereum compared to Bitcoin experienced a more than 79% decrease from its highest point in 2021.

The trading pair maintained a position close to 0.01835, one of its lowest points during its multi-year history. A change in market sentiment towards Ethereum’s ecosystem and positive feelings toward its network would lead to a potential ETH/BTC relationship.

Whale Transactions Raise Concerns Over Short-Term Selling

Several large holders made notable transactions following Ethereum’s price surge. A wallet linked to the Ethereum Foundation transferred 1,000 ETH, worth around $1.58 Million, to the exchange Kraken.

This wallet received 84,513 ETH a decade ago when the asset was priced at approximately $1.20, according to blockchain records.

Another large transaction came from a whale that borrowed 15,000 ETH from Aave and sold it for 24.9 million USDT. The average selling price was around $1,660.

This move occurred shortly after the recent price rally, leading to concerns that other large holders might follow with similar actions.

The transaction took place within 15 minutes, and some investors grew uneasy about the implications of such rapid and substantial selling pressure on the market.

On-Chain Metrics Point to Possible Accumulation Zone

Presenting an alternate perspective about the asset’s market standing during April 2025, Ethereum’s MVRV Pricing Bands showcased the market valuing Ethereum at $1,588.30, while its actual value remained at $1,981.34.

At present, Ethereum is positioned within the lower section of MVRV deviation bands, where historical data shows buying activity steers toward accumulation.

Glassnode data indicated that the previous falls into these bands during 2018 and 2022 established market bottom points.

Analysts followed this data point since it revealed the feelings of long-term holders and market actors in Bitcoin markets. The price range indicates ongoing selling or weak demand if it stays stable for a prolonged period.

The current price received positive and negative assessments from traders because of whale transactions and broader market conditions. The Ethereum market showed signs of recovering to reach previous MVRV bands, including the $3,094 mark.