Ethereum’s weekly price outlook centers on a potential pivot after Trend Research capitulated, with BitMine’s Thomas Lee flagging a possible V-shaped recovery. The token is currently around $2,040, having declined roughly 40% over the past ten days as major whales capitulate.
On-chain dynamics reinforce the case for potential strength, even as the price remains pressured. ETH has moved below its realized price—a measure of the average cost basis for investors—an event historically associated with accelerated selling pressure as losses are realized. In parallel, wallets in the 100-1K and 1K-10K brackets have offloaded about 820,000 ETH over the past week, underscoring broad selling activity.
Lee argues that ETH could still see a V-shaped recovery after such declines, noting that similar drawdowns have occurred seven times in the past eight years. He emphasized that downturns can create favorable entry points for both crypto and broader markets.
Vitalik Buterin, Ethereum’s co-founder, responded to a post on X by saying that ETH is a store of value and one of the most important applications on Ethereum, a sentiment that underscores the asset’s multifaceted role amid volatility.
Looking ahead, Ethereum’s price action remains sensitive to upside leverage. The forecast suggests a test of the $2,100 level; a break above could open a path toward $2,380, while rejection could pull ETH back toward $1,740. Technical indicators, including the RSI and Stochastic, have retreated slightly from oversold zones, signaling a modest easing in bearish momentum.
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