As of April 29, 2025, Ethereum (ETH) is trading at approximately $1,823.95, showing a modest gain of 0.79% for the day.
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📊 Key Technical Levels
Support Levels:
$1,770 – $1,796: Recent support zone; over 4 million addresses are in profit at this level, indicating strong buying interest.
$1,685: Identified as a potential support area; a rebound from this level could signal continued growth.
$1,545: Critical support; a drop below this could indicate a continuation of the downtrend.
Resistance Levels:
$1,820 – $1,850: Immediate resistance zone; ETH has recently surpassed $1,820, with bulls targeting $1,850 next.
$1,920: Next significant resistance; breaking this could pave the way for further gains.
$2,000: Psychological resistance level; surpassing this could signal a strong bullish trend.
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🎯 Trading Strategy Considerations
Take Profit (TP) Targets:
Short-Term: $1,850 – $1,920
Mid-Term: $2,000 – $2,426
Stop Loss (SL) Levels:
Conservative: Below $1,770
Moderate: Below $1,685
Aggressive: Below $1,545
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📈 Technical Indicators
Relative Strength Index (RSI): Currently above 50, indicating bullish momentum.
Moving Averages:
50-Day EMA: ETH is attempting to break above this level, which is near $1,800.
200-Day SMA: Trending upwards, supporting a long-term bullish outlook.
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📰 Market Outlook
Ethereum has recently broken out of a multi-month descending channel, pushing the price above $1,800 and suggesting bullish momentum. Additionally, Ethereum ETFs have posted three straight days of inflows, totaling $64.12 million on April 28, indicating renewed institutional interest.
However, a significant Ethereum whale sold 10,511 ETH worth $19.2 million at $1,828, which could introduce short-term selling pressure.
Overall, Ethereum's price action suggests a cautious optimism, with key resistance levels to watch at $1,850 and $1,920. Maintaining support above $1,770 will be crucial for sustaining the current bullish trend. $ETH
