$ETH
Ethereum Price Analysis
The crypto market is showing signs of revival, with Ethereum's price rising 1.8% to $1,648.6 in 24 hours. Ethereum has been falling since December 2024, while Bitcoin reached $84,000.
Ethereum dropped almost 65% from its top of $4,000 to its current price.
Ethereum Price Analysis
The daily data shows Ethereum prices falling since December 2024. Crypto has a downtrend. Recent price moves suggest ETH has bottomed at the channel's lower border at $1,465.
For over five months, ETH price has followed the declining trend, testing the upper and lower borders. Ethereum is trying to breach short-term resistance, which might start a rebound bounce.
Fibonacci retracement levels from December highs to April lows indicate future resistance. The first substantial barrier is $2,063 around 0.236 Fib, while $2,433 at 0.382. Any prolonged healing requires these levels.
All EMAs are bearish. Price faces immediate resistance at the 20 EMA at $1,722, then the 50 ($1,988) and 100 ($2,324) EMAs.
At 5.7, the MACD indicates a modest momentum increase, but both signal lines stay below zero at -120.0 and -125.7. Even if selling pressure is decreasing, momentum is still negative. A bullish crossing might signal a near-term comeback.
Support is at the channel's bottom border around $1,465, tested twice in April. At $1,722, the 20 EMA and psychological barrier of $2,000 are significant resistance levels. Trend reversal requires breaking above these levels.
Target Prices
Ethereum might reach $2,063 at the 0.236 Fibonacci level if the consolidation breaks apart. If buying pressure persists, $2,433 may hit the 0.382 Fib level.
If the present support fails, Ethereum will retest the April low at $1,465 or drop below $1,300, signaling a full 2023-2024 bull cycle retracement.
