Ethereum price today trades at $3,300 after dropping 10.16% over the past week. This lackluster performance from ETH has been a theme throughout 2024 and has not changed so far in 2025. This situation exacerbated after a new Solana meme coin announced on President-elect Donald Trump’s X page has outperformed Ethereum’s 4-year gains in just 90 minutes.
Ethereum Price Today Trades at No data found for ethereum on 42 minutes ago, ETH is Down No data found for ethereum on 42 minutes ago%
Ethereum (ETH) price today trades at No data found for ethereum on 42 minutes ago as of No data found for ethereum on 42 minutes ago. Although the token showed strength at the end of 2024, it has continued its lackluster performance streak. Despite this performance, whales continue to accumulate ETH at a discount. Over the past week, these investors have bought 330,000 ETH worth roughly $1 billion. From a daily high of No data found for ethereum on 42 minutes ago ETH price is down No data found for ethereum on 42 minutes ago% on January 18.
*Ethereum price updated as of No data found for ethereum on 42 minutes ago.
TRUMP Coin Outperforms Ethereum’s 4-Year Gains in 90 Minutes
The TRUMP coin soared by 766% in just 1 hour and 31 minutes today, as seen below. Since its inception, the token has raked 8,110% and continues to rally higher. Ethereum, on the other hand, has managed to shoot up 420% in the last four years.
While some speculate that this could be the work of scammers who took control of Trump’s X account, others believe it is a promotion from the to-be 47th president of the United States of America. So far, no official comments have been made from Trump or his team. Still, many suggest TRUMP Solana meme coin was launched by Donald Trump.
TRUMP/USDT 1-minute chart
Whales Buy 330,000 ETH Last Week
According to Santimen, Ethereum whales holding between 1,000 to 10,000 ETH have scooped up 330,000 tokens in the past week. At present, the value of these tokens is roughly $1 billion. Despite this buying spree, the price of ETH continues to linger at around $3,300, with no signs of a breakout rally.
ETH Whales Accumulate Roughly $1 Billion Tokens
On-chain metrics showcase a bullish outlook. Supporting it is the technical analysis of ETH, which also shows a similar scenario with a massive bottom reversal pattern forming on the weekly chart.
Ethereum Price Analysis
Ethereum price’s weekly chart shows a cup and handle setup, which is a bullish reversal pattern. This technical formation forecasts a 72% rally to $6,172, obtained by adding the cup’s depth to the neckline at $4,000.
However, for a decisive breakout, Ethereum price needs to overcome the $3,800 to $4,100 resistance zone. A weekly candlestick close above this zone that flips it into a support level will confirm a resolution of the cup and handle setup. In such a case, Ethereum price forecasts the next target at $6,000.
Cup and handle pattern observed on ETH/USDT 1-week chart
While Ethereum price performance has been lackluster, it hasn’t crashed and is holding its ground, showing resilience. On the other hand, many altcoins continue to crash with no bottom in sight. Investors should disregard the short-term noise and pay attention to the long-term outlook, which is promising, considering the crypto bull market has a long way to go before it tops. The growing fundamentals and on-chain metrics add credence to a better performance in the near future.
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