Ethereum ETH/USD could drop to $1,500 before the repeatedly delayed Pectra upgrade launches in late April, according to MEXC Chief Operating Officer Tracy Jin, though long-term projections remain optimistic with potential $8,000 highs by year-end.

What Happened: The second-largest cryptocurrency has struggled in 2025, dropping 38% since January while investors redirect capital away from ETH exchange-traded funds. Network activity has reached historic lows despite past improvements in transaction speed and cost.

“A second decline to $1,500 by the end of the month is very likely,” Jin said, noting that despite transaction improvements, “the community has switched to using other blockchains.”

However, Jin highlighted positive indicators suggesting accumulation. ETH holdings on centralized exchanges have fallen to their lowest levels since November 2015, indicating investors may be purchasing coins at current price points ahead of anticipated improvements.

See Also: Bitcoin, Ethereum, Dogecoin Edge Higher As Market Braces For Trump’s ‘Liberation Day:’ Why Arthur Hayes Still Sees BTC Hitting $250,000 By Year-End

Why It Matters: The Pectra upgrade, postponed twice already, aims to increase network scalability and decrease fees, potentially revitalizing network activity. If implemented without another delay, Jin believes it could catalyze Ethereum’s return to the $3,000 mark.

In the immediate term, ETH is expected to trade between $1,900-$2,100 through early April. The cryptocurrency traded at $1,857 Tuesday evening, up 0.43% in 24 hours, according to data from CoinMarketCap.

The broader cryptocurrency market shows cautious optimism despite Ethereum’s challenges. Bitcoin‘s BTC/USD dominance has reached 61.8%, its highest since February 2021, while Ethereum struggles to maintain momentum above key price levels.

Without unexpected market disruptions, Jin maintains that forecasts for Ethereum reaching historical highs of $6,000-$8,000 by year-end remain viable. She emphasized that Ethereum co-founder Vitalik Buterin‘s team must develop innovative solutions to replace previous catalysts like ICOs, DeFi, NFTs, and metaverse projects to achieve these ambitious targets.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.