Ethereum news: Standard Chartered Bank slashes ETH price target from $10,000 to $4,000
Ethereum struggles to gain momentum
Ethereum price has been stuck in a narrow price range for the past eight trading days, fluctuating between $1,830 and $1,960. Despite minor bullish attempts, Ethereum has struggled to gain momentum, with price movements remaining contained below the $1,950 resistance level. Throughout today’s Asian and European sessions, price volatility has remained low, signaling continued market indecision.
One major factor influencing Ethereum’s outlook is changing sentiment among institutional players. Standard Chartered Bank has revised its Ethereum price target downward, cutting its projection from $10,000 to just $4,000. The bank attributes this shift to Ethereum’s evolving ecosystem, particularly the impact of Layer 2 scaling solutions.
ETH/USD price dynamics (March 2025). Source: TradingView.
Analyst Geoff Kendrick characterizes this as Ethereum’s “midlife crisis,” arguing that Layer 2 solutions are reducing demand for the main chain, turning Ethereum into a commodity-like asset rather than a high-growth platform.
50-day EMA at $1,950 remains key resistance for ETH bullish outlook
On the 4-hour chart, Ethereum’s RSI has moved into bullish territory, indicating some buying interest. However, the daily RSI remains bearish, keeping the asset vulnerable to downside moves.
A key resistance level lies at the 50-day EMA near $1,950, which has repeatedly capped Ethereum’s upside attempts. The fact that this moving average is near to the top of the consolidation range makes it a crucial hurdle for further gains. A clear breakout above $1,950 and sustained movement beyond $2,000 would be required to confirm a bullish shift.
If price continues to struggle at this resistance, sellers could regain control, potentially driving Ethereum back toward the lower end of the consolidation range at $1,830.Additionally, broader market conditions and investor sentiment around Ethereum’s long-term value are shifting. If institutional skepticism continues to grow, Ethereum could face further downward pressure, even if short-term bullish signals emerge.
Ethereum spot ETFs saw $189.9M in outflows last week, extending a three-week withdrawal streak. While price remained stuck between $1,820 and $1,960, failing to gain momentum.
