Ethereum (ETH) Shows Healthy Decline, Is Uptrend Still Safe?

Updated

May 6, 2025

Gambar Ethereum (ETH) Shows Healthy Decline, Is Uptrend Still Safe?

Jakarta, Pintu News – Ethereum has recently experienced a significant price drop, but is still showing signs that its long-term uptrend remains secure. After managing to stay above the $1,750 zone, Ethereum (ETH) is on the rise again, following in the footsteps of Bitcoin , and has managed to break several key resistance levels.

Introduction: Ethereum Market Dynamics

Ethereum (ETH) managed to break through the $1,800 and $1,820 resistances, which marked the beginning of a larger upside potential. Market participants managed to push the price up to $1,873 before it eventually corrected. This correction brought the Ethereum (ETH) price back down below the $1,820 level and the 100-hour simple moving average.

Currently, Ethereum (ETH) is trading below $1,820, with a short-term bearish trend forming. There is a bearish trend line with resistance at $1,835 on the hourly chart of ETH/USD. The price seems to face resistance near the $1,820 level, and the next key resistance is at $1,840.

Also Read: BONK Freefalls 8% in 24 Hours: Check out the Price Levels that Can Prevent Further Declines!

Technical Analysis and Upside Potential

If Ethereum (ETH) manages to break the $1,880 resistance, this could be an early signal for further gains. A clear move above this resistance might push the price towards $1,950. If this momentum continues, Ethereum (ETH) could reach the $2,000 or even $2,050 resistance zone in the near future.

The hourly MACD indicator for ETH/USD is showing increasing momentum in the bearish zone, while the hourly RSI is now below the 50 zone. This shows that there is quite strong selling pressure, but the opportunity to return to the uptrend is still wide open if some key resistance levels can be broken.

Possible Critical Declines and Supports

If Ethereum (ETH) fails to break the $1,820 resistance, there is a possibility that the price will experience a further decline. Initial support lies near the $1,785 level, which is the 61.8% Fib retracement of the last upside move from $1,734 to $1,873. The next major support is the $1,765 zone.

A drop below the $1,765 support could push the price towards $1,735. If the decline continues, Ethereum (ETH) may look for support at the $1,720 level. The next key support is at $1,650, which could be an important turning point to determine the next direction of the market.

Conclusion: Ethereum’s Prospects in the Market

Although Ethereum (ETH) is experiencing some selling pressure, its long-term outlook still shows positive potential. With strong support and well-defined resistance in place, market participants should remain wary of significant price movements. Investment decisions should be based on careful technical analysis and constant monitoring of market indicators.

Also Read: Ethereum Hangs Above $1,770: Can It Reach $2,030 Next?

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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. Crypto trading activities are subject to 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.