$ETH

**🚨 Ethereum's April Analysis: Bearish Trends Amidst Anticipated Upgrades*

In April 2025, Ethereum (ETH) has faced continued downward pressure, with its price hovering around $1,790

This decline is attributed to a combination of technical and macroeconomic factors

**Technical Indicators:**

- **Moving Averages:**

ETH is trading below both its 50-day and 200-day moving averages, indicating a bearish trend

- **Relative Strength Index (RSI):**

The RSI is approaching oversold territory, suggesting potential for a short-term bounce

- **MACD:**

The MACD line remains below the signal line, reinforcing the bearish momentum

**Support and Resistance Levels:**

- **Support:**

Key support is identified at $1,800; a breach below this level could signal further downside toward $1,500

- **Resistance:**

Resistance levels are noted between $1,900 and $1,938, corresponding to the 0.382-0.5 Fibonacci retracement levels

**Upcoming Developments:**

The anticipated Pectra upgrade, expected in mid-2025, aims to enhance Ethereum's scalability and security

Key features include EIP-7251, increasing the staking amount per validator, and EIP-7702, enabling enhanced smart contract functionality

**Market Outlook:**

While short-term indicators suggest continued bearishness, the upcoming Pectra upgrade could serve as a catalyst for renewed investor interest

Traders should monitor key support and resistance levels and stay informed about network developments to navigate the current market landscape