Ethereum (ETH) price holds strong, will it continue to rise? Here’s ETH April Technical Analysis!

Jakarta, Pintu News – Ethereum (ETH) has recently started a recovery wave that has caught the attention of many investors and analysts. After breaking through the $2,000 zone, Ethereum (ETH) is now in a consolidation phase, with several hurdles to overcome. Ethereum (ETH) price has reached a high of $2,104 before undergoing a downward correction. Currently, Ethereum (ETH) is trading above $2,010 and above its 100-hour Simple Moving Average (SMA).

Ethereum (ETH) Technical Analysis

In the hourly chart of Ethereum (ETH) against the US Dollar (USD), there is a bullish trend line forming with support at $2,010. However, Ethereum (ETH) is facing resistance near $2,075. If it is able to break this resistance, the next price to test is $2,100. The next major resistance lies at $2,150, and if successfully crossed, this could take Ethereum (ETH) towards the $2,200 zone.

On the other hand, if Ethereum (ETH) fails to break the $2,100 resistance, there is a possibility that the price will drop again. Initial support lies at $2,045, with the next major support at the $2,020 zone, which is also the 61.8% Fibonacci retracement of the last upward wave from $1,981 to $2,104. A drop below this support could push prices towards trendline support at $2,010.

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Ethereum (ETH) Price Movement Potential

The hourly Moving Average Convergence Divergence (MACD) indicator for Ethereum (ETH) shows a loss of momentum in the bullish zone. Meanwhile, the hourly Relative Strength Index (RSI) for Ethereum (ETH) is currently below the 50 zone, signaling the potential for more selling pressure. If Ethereum (ETH) manages to maintain support above $2,010 and break the $2,100 resistance, this could be a strong bullish signal for traders.

However, if the price of Ethereum (ETH) continues to move below $2,020, this could be an early indicator that the correction phase may not be complete. In this scenario, investors and traders should be wary of a potential further decline that could test support at $1,965 in the short term.

Conclusion: The Future of Ethereum (ETH)

With strong support at $2,010 and several hurdles to overcome, the future of Ethereum (ETH) price seems to be heavily influenced by its ability to maintain its current momentum. Investors and traders should constantly monitor technical indicators and market developments to make informed investment decisions. The performance of Ethereum (ETH) in the coming days will be an important determinant of the next direction of the price trend.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Ethereum Price in Accumulation Above $2,000: Here’s Why Bulls Are Comfortable. Accessed on March 27, 2025
• Featured Image: Generated by AI