Ethereum Price Outlook: Can ETH Reach $40,000 by 2030?

Standard Chartered has projected that Ethereum price could reach $40,000 by 2030, a bold long-term forecast that stands in contrast to Ethereum’s current price behavior. While ETH is trading in recovery mode, supported by easing macro conditions and improving technical structure, price action remains constrained by nearby supply zones rather than moving in a sustained breakout trend. This divergence between long-term valuation and short-term market structure is central to understanding Ethereum’s outlook.

A $40,000 Ethereum price would imply a network valuation of roughly $4.8 trillion, assuming a circulating supply near 120.7 million ETH. Compared to today’s market capitalization of around $400 billion, this scenario requires approximately $4.4 trillion in net marginal demand to enter and remain within the Ethereum ecosystem over time. Crucially, this demand cannot be speculative or short-lived. For Ethereum price to compound sustainably, capital must be retained through long-duration holding, staking, and structural supply reduction rather than exiting during market pullbacks.

Ethereum’s long-term valuation thesis depends on its ability to consistently convert new demand into effectively inactive supply across multiple market cycles. If inflows revert back into liquid supply during corrections, price expansion stalls. As such, the $40,000 forecast is not based on isolated bull runs but on Ethereum maintaining capital efficiency and network utility through repeated expansion phases.

In the near term, Ethereum price is rebuilding momentum after a prolonged multi-month downtrend. ETH recently surged nearly 7% following U.S. CPI inflation data, signaling renewed risk appetite across crypto markets. Price is currently trading around $3,325, holding above rising trend support but still reacting to overhead supply near the $3,350 level. This zone has historically capped upside moves, keeping the recovery measured rather than impulsive.

Technical indicators suggest controlled strength. RSI near 65 reflects healthy demand, while the Parabolic SAR remains below price, supporting trend continuation. A sustained reclaim of $3,350 could justify rotation toward $3,600, with further upside opening a path toward the $4,000 region. However, failure to clear supply would likely return Ethereum price to consolidation, tempering short-term expectations while leaving the long-term $40,000 thesis dependent on structural adoption and capital retention.