Ethereum Stuck at $1.700 — Is a Shocking Drop to $1.300 Just Around the Corner?

Jakarta, Pintu News – Ethereum (ETH) prices surged nearly 17% on April 22 and 23, but this optimism is starting to fade after a crypto watcher revealed the possibility of a price correction back to the April 8 low of $1,380.

This scenario is based on important historical patterns (fractals) that have occurred before on ETH.

As of April 24, Ethereum had declined by 2.26% after rallying nearly 17% in the last two days. On Thursday, the price of ETH was trading at $1,754 after experiencing strong resistance at the 50-day moving average.

Analysts and traders expect Ethereum’s price movement in the short term to be bearish, before the bulls push the trend back up.

Then, how will Ethereum price move today?

Ethereum Price Drops 1.60% in 24 Hours

As of April 25, 2025, the price of Ethereum (ETH) was recorded at around $1,745 or equivalent to IDR 29,595,752, experiencing a 1.60% correction in the last 24 hours. During this period, ETH touched its highest level at IDR 30,270,740, and its lowest level at IDR 29,240,315.

At the time of writing, data from CoinMarketCap shows that Ethereum’s market capitalization stands at around $210.58 billion, with daily trading volume falling 25% to $14.83 billion in the last 24 hours.

Read also: Bitcoin Holds Strong at $93,300 — But Analysts Warn of a Sharp Drop to $83K Ahead

Will Ethereum Price Correct?

As mentioned earlier, Ethereum price has touched the blue line at $1,819, which is the 50-day moving average.

Rejection of this level led to a correction of 2.26% on April 24, 2025, and this correction could continue depending on the current state of Bitcoin as well as geopolitical tensions due to tariffs imposed by Trump.

Although the recent uptrend is quite impressive, the probability of a short-term correction remains high. The Relative Strength Index (RSI) being slightly above the 50 mark signals a top formation, indicating a correction or weakening of the bullish momentum.

The trailing Awesome Oscillator (AO) indicator is also nearing the zero line, with a fading green histogram, signaling weakening bearish pressure.

If selling pressure increases at this level, the ETH price could drop to $1,600, which was the starting point of the previous 16% rally.

According to crypto trader RektProof and his Ethereum price fractal pattern, a deeper correction back to the April 8 low of $1,380 is also possible.

Analysts Reveal Ethereum’s Possible Return to $1,300

In a recent post on the X platform, crypto trader RektProof revealed Ethereum’s price fractal pattern showing a similar previous uptrend which was then followed by a sharp correction.

Read also: Top 3 AI Agent Cryptos Everyone’s Watching as April 2025 Comes to a Close

The crypto watcher added, “Be wary of the setup if we start trading below important levels.”

While RektProof does not directly state that the value of ETH will definitely fall, it does consider the possibility that the recent price rally could collapse, and emphasizes the importance of paying attention to key levels in anticipation.

The first key level to watch is $1,660. This level should be able to withstand downward pressure.

If there is no significant price reaction when approaching this level, investors should prepare for a possible deeper price drop.

The next level of concern is $1,380, which coincides with the equal lows on the higher time frames.

If this level is swept, the fractal pattern suggests that the Ethereum price will likely form a bottom there before resuming its uptrend.

In conclusion, Ethereum’s price outlook is still relatively bullish after rallying nearly 17%. However, the potential for a correction remains. Failure to hold the important support levels mentioned could lead to a sharp price drop.

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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 have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Ethereum Price Eyes Correction After 16% Move, Pundit Hints Revisit of $1,300 Not Unlikely. Accessed on April 25, 2025