Ethereum price has been on a freefall this year, making it one of the worst-performing major cryptocurrencies. 

Ethereum (ETH) has dropped for three consecutive weeks, falling to its lowest level since March 2023. It has lost over half of its value from its November peak, costing investors billions. This article breaks down the ongoing Ethereum price crash using key charts.

Spot Ethereum ETFs have had substantial outflows

One reason why the ETH price has plunged is that spot ETFs have had substantial outflows this year, pointing to weak demand in the United States. The chart below shows that these funds have had net outflows in the last six consecutive weeks. These funds now have just $2.3 billion in net inflows compared to Bitcoin’s $35 billion. That is a sign that investors prefer Bitcoin to ETH by a wide margin.

Ethereum no longer leads in fees

For a long time, Ethereum was the most profitable chains in the crypto industry as it dominated industries like DeFi, gaming, non-fungible tokens, stablecoins, and Real world Asset tokenization. This performance has changed this year, and the network has been overtaken by other popular chains. 

The chart below shows that Ethereum has generated $227 million in fees this year. In comparison, Tether has raked in $1.3 billion, Solana $376 million, and Tron $880 million, largely due to their stablecoin-related activity. Platforms like Jito and Uniswap have also surpassed Ethereum in total fees.

Development activity has dropped

On-chain data also indicates that Ethereum’s developer activity has declined in recent months. This drop is likely due to developers migrating to other fast-growing chains such as Solana, Sonic, and Berachain. Many have also shifted focus to Ethereum’s layer-2 solutions like Base, Arbitrum, and Optimism, which offer faster speeds and lower transaction costs.

Ethereum price formed a triple-top pattern

From a technical perspective, Ethereum has fallen sharply after forming a bearish triple-top pattern on the weekly chart. This formation consists of three peaks at around $4,062 and a neckline at $2,132 — a key support level last tested on August 5.

ETH has now broken below this neckline, confirming the bearish signal. It has also fallen beneath both the 50-week and 100-week moving averages. As a result, the next downside target could be $1,000.

Summary

Ethereum has experienced a sharp decline in 2025, turning a $10,000 investment in November into just $3,650. Weak fundamentals and negative technical indicators suggest that further downside may be likely in the coming months.

Crypto analysts are hailing now as the perfect time to buy Pepe after its price crashed by over 77% from its highest point in December. Most experts cite its strong fundamentals, like the Mean Dollar Invested Age (MDIA), and its strong technicals, including the formation of a double-bottom pattern. This report explains why the Pepe coin price may be ripe for resurgence.

Fundamentals Support the Pepe Coin Price Surge

Pepe coin price could stage a strong rally as some fundamental metrics point to a strong rally this month. One of these metrics is known as the Mean Dollar Invested Age (MDIA), a figure that looks at the average age all coins weighted by their purchase price. The 365-day MDIA metric has surged to the highest point this year, signaling that holders are holding onto their tokens. 

Another metric by CoinGlass shows that the futures open interest of the Pepe coin may have bottomed, which is a positive sign. This OI peaked at $335 million on March 28 and then bottomed at $195 million as crypto prices crashed. The trend suggests that the figure is bottoming, which may lead to more gains in the next few days.

These metrics helps to explain why some analysts expect the Pepe coin price to recover in the coming days or weeks. In a note, a pundit known as Rodney said that this was the “perfect time to buy the greatest meme coin of all time.” He also added that the next Pepe price pump would be biblical. 

Another pundit with over 40k users used the weekly chart below that signaled that the Pepe price was showing bottoming signs. He added that he was still adding to his Pepe position.

Pepe Price Technical Analysis: Two Key Patterns Converge

Technicals show that the Pepe token may be on the cusp of a major bullish breakout as two patterns converge. 

The first crucial pattern is the falling wedge, which formed for the most part of this year. This pattern, which is shown in green below, has two descending and converging trendlines. In most case, this pattern usually leads to a major upside. 

The two lines of this wedge converged at the key support at $0.0000060, which was also the lowest level in August last year. As such, it formed a giant double-bottom pattern, another highly bullish sign. Most recently,  it has formed another small double-bottom pattern whose neckline is at $0.0000092. 

Pepe Token Price Targets

Therefore, the odds are high that the Pepe coin price will stage a strong comeback. The initial target being the neckline of the double bottom at $0.0000092. It will be followed by the 50% retracement point at $0.00001715, up by 173% above the current level.

The bullish Pepe price forecast will be canceled if it loses the double-bottom point at $0.00000595.

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crispus

Crispus is a seasoned Financial Analyst at CoinGape with over 12 years of experience. He focuses on Bitcoin and other altcoins, covering the intersection of news and analysis. His insights have been featured on renowned platforms such as BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.