• Ethereum surges 9.17%, pushing its price near all-time highs, with Standard Chartered targeting $7,000 by year-end.
• Analysts warn about a possible change in trend, with crucial support levels at $4,164 and $3,892.
• Ethereum’s trading volume drops 31.56%, signaling investor caution despite the rally.

Ethereum (ETH) has experienced a sharp increase of almost 9.17% within the last week. This boom moves ETH near to all-time highest (ATH) values. There is a growing optimism among analysts regarding the asset, which prompted Standard Chartered to revise its year-end Ethereum price target all the way up to $7,500.

This increase has re-established faith in institutional investors. The recent performance of Ethereum has notably renewed interest as it approaches all-time high (ATH) levels. This growth has attracted the attention of the other large financial players in the cryptocurrency market, with Standard Chartered now predicting the cryptocurrency will hit the mark of 7,000 dollars by December 2025.

Also Read: Ethereum Nears $5000 as BlackRock Buys $500M ETH

Ethereum Faces Correction Risk

Nevertheless, the bullish rally has not convinced all analysts that ETH will continue to rise in the near future. Crypto Patel cautioned that ETH has just breached a rising trendline, which could be interpreted as a shift in trend. According to the analyst, ETH confirmed this break in the bearish retest of the market, signaling that the market may be experiencing some correction.

Source: X

Patel identified some important support levels of Ethereum. The initial liquidity pool is at the amount of $4,164, whereas the second and more important level of demand happens to be at the amount of approx. $3,892. Breaking above such levels will continue to see ETH stay bullish. Yet, the bear pressure may continue in case the price stays under $4,600.

ETH Faces Decline in Market Activity

According to Coinglass, market activity has decreased. The volume of trade in ETH has decreased by 31.56% and stands at $160.50 billion. In the same line, the open interest of ETH has also declined by 2.29%, coming down to $62.50 billion. These numbers show that the trading is starting to decelerate, which may portend a sign of prudence among investors.

Source: Coinglass

The 24-hour data on liquidation gives a better understanding of the relationship in the market. It had a total of $170.68 million in liquidations: $130.76 million in long liquidations and $39.91 million in short liquidations. These figures are indicative of continued uncertainty amid movements of traders in response to downward and upward price conditions.

All these mixed signals notwithstanding, the recent rise in ETH has made most institutional analysts revise their price predictions. The cryptocurrency has preserved itself as one of the most powerful facilities in the digital world. Ethereum is increasingly gaining interest among retail and institutional investors due to its price that keeps on rising.

Market activity as ETH approaches the levels of its ATH is something that will be keenly observed by market participants. Upcoming weeks will play a decisive role in telling whether ETH is likely to continue its bullish trend or a correction is impending in the near future. Traders and analysts will further analyze the trends in the market to determine the long-term future of the cryptocurrency.

Also Read: Could Ethereum Reach $15,000? What Market Trends Say About ETH’s Future