Ethereum Price Prediction: ETH Jumps 4% As Standard Chartered Says Ethereum And ETH Treasury Firms Are Still `Cheap’

The Ethereum price has surged more than 4% in the last 24 hours to trade at $4,594 as of 5 a.m. EST on a 15.8% drop in the daily trading volume to $50.85 billion.

This comes as a Standard Chartered report said ETH and Ethereum treasury firms remain undervalued even after a 76% surge in the past year.

Global head of digital assets research, Geoffrey Kendrick, maintained his price target of $7,500 by the end of the year, helping boost market sentiment.

The report said Ethereum is the number one platform for smart contracts and DeFi, and Kendrick said utility and security will keep driving demand, especially as more ETH treasury startups snap up the biggest altcoin.

Ethereum Price: On-chain Metrics Signal Growing Strength

The latest on-chain data gives more positive signs for the Ethereum price. One clear trend: large amounts of ETH are being withdrawn from exchanges as investors move coins into private wallets or staking. 

ETH Daily Transactions Analysis Source: Etherscan

This “outflow” is a bullish signal, suggesting holders want to lock up assets long-term, reducing the supply available for trading and supporting future upside potential. Ethereum’s network activity remains healthy, with steady growth in daily active addresses, plus rising transactions thanks to DeFi and NFT trading. 

New whales are also accumulating ETH. Metrics from analytics firms show an uptick in wallet balances for both top funds and key DeFi protocols. ETH held on exchanges is at its lowest level in months, showing people are taking coins off platforms to hold or use in protocols.

This action, combined with high spot trading volumes, suggests the recent price surge is backed by real demand, not just speculation

Ethereum Price: New All-Time Highs In Sight?

The ETHUSD weekly chart shows the price is at $4,604, just underneath the $4,937 resistance, which acted as the last all-time high. The coin price recently broke out above the crucial 50-week SMA ($2,868) and 200-week SMA ($2,448), showing strong momentum after months of sideways movement.

Trend indicators point to a solid uptrend. The RSI reads 70.61, approaching overbought but not yet flashing warning signs. MACD is deep in bullish territory, with the main line at 247.87 and the signal line at 275.76. Histograms are positive, and momentum remains strong. 

Ethereum price

ETHUSD Analysis. Source: Tradingview

ADX sits at 28.92, indicating that the uptrend is established and likely to continue, at least in the short term. Meanwhile, the support levels lie at $4,000 and both the 50- and 200-period moving averages.

If ETH retreats, these are likely to attract buyers. Major resistance is at the $4,937–$5,000 area. Should the ETH price break this zone, chart projections point to the next targets near $5,800 or even $6,200, based on the size of the breakout and Fibonacci extensions.

If the coin price fails to hold $4,600 and momentum stalls, deeper support is around $4,000. However, the current setup stays bullish as long as ETH holds above this band. The upward-sloping moving averages and strong technicals keep the longer-term trend positive.

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