Ethereum Price Drop: Is It Temporary or a Change in Trend?

Jakarta, Pintu News – Ethereum (ETH), one of the leading cryptocurrencies, has recently experienced a price drop below the $1,800 level. Currently, Ethereum (ETH) is testing the $1,750 zone and may continue to drop towards $1,700. This decline has sparked questions among investors: is this just a temporary correction or an indication of a long-term trend change?

Ethereum Price Correction

After stabilizing above $1,720, the price of Ethereum (ETH) has been on the rise. The currency managed to break through the $1,750 and $1,780 levels, even reaching above $1,800. However, after reaching a peak near $1,850, Ethereum (ETH) started to experience a downward correction.

There was a drop below the 50% Fibonacci retracement level of the last rise from $1,723 to $1,848. This decline was also followed by losing support on the bullish trend line present on the hourly chart of Ethereum (ETH) against the US dollar. Currently, Ethereum (ETH) is trading below $1,780 and the 100-hour simple moving average.

Read More: Crypto Price Surge: What’s Driving Today’s Increase?

Potential Barriers and Support

On the upside, Ethereum (ETH) seems to be facing resistance near $1,775. The next key resistance is at $1,800, and if it can break through, the next major resistance is $1,820. If Ethereum (ETH) manages to cross $1,820, it could push the price towards $1,850 and even higher.

Conversely, if Ethereum (ETH) fails to break the $1,800 resistance, there is a possibility of further declines. Initial support is near $1,750, with the next major support in the $1,700 zone. A break below could push Ethereum (ETH) prices towards $1,650 or even lower.

Technical Indicators and their Implications

The hourly Moving Average Convergence Divergence (MACD) indicator for Ethereum (ETH) shows a loss of momentum in the bearish zone. Meanwhile, the hourly Relative Strength Index (RSI) for Ethereum (ETH) is currently below the 50 zone, signaling more selling pressure may lie ahead.

These indicators suggest that Ethereum (ETH) may face more challenges ahead. Investors and traders should pay attention to the mentioned support and resistance levels to take the right decisions in their transactions.

Conclusion

Although Ethereum (ETH) has experienced a recent decline, it is too early to determine whether this is a temporary correction or the beginning of a bearish trend. Investors should continue to monitor market indicators and related news to make informed investment decisions.

Also Read: Trump’s Dinner Party Triggers Big Waves in Crypto Market!

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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 Retreats 1750. Accessed on April 28, 2025
• Featured Image: Bitcoinist