Ethereum Struggles Against Resistance, Market Questions Its Future
ETH Analysis: April 23, 2025 Daily Chart
Ethereum has shown some resilience, and has risen along with the market; if it hadn’t, it would likely have faced severe criticism! The short-term peak is around 1820, which can serve as the current resistance point. The current price is near 1795, so let's see if the U.S. stock market strengthens in the evening, which could drive the crypto market to continue rising!
Technical Analysis of the Trend:
The previously mentioned pressures on the smaller timeframes have all been broken through, including the pressures at 1688-1700 and 1750. At the same time, the area around 1750 can serve as a short-term support level. As long as this support level is not broken, there is still a demand for continued bullish sentiment. For the upper resistance, we should temporarily pay attention to the small resistance around 1850-1860, and beyond that, we will look at the previous resistance at 1950!
