#Ethereum Price Analysis: Approaching Key Resistance
Today, April 29, 2025, Ethereum ($ETH ) is trading around $1,775 - $1,817, showing some signs of recovery after a recent dip.
Short-Term Outlook: Technical analysis suggests a potential for further upward movement. ETH has broken out of a descending channel, indicating a shift in momentum. Key resistance levels to watch are around $1,800 - $1,830, and a break above this could lead to a retest of the $2,000 - $2,100 range. The Relative Strength Index (RSI) on shorter timeframes is showing increasing bullish momentum.
However, caution is warranted. ETH has faced rejection at the $1,800 level multiple times recently, indicating strong bearish pressure at this point. Additionally, Ethereum ETFs have experienced outflows, suggesting some investors are selling.
Overall: While there's short-term bullish potential, ETH needs to decisively break through the $1,830 resistance to confirm a stronger upward trend. Failure to do so could lead to a pullback towards the $1,750 support level. Traders should monitor volume and key resistance levels closely.
#BinanceAlphaAlert #AirdropStepByStep #BTCRebound
Please follow me for more CRYPTO related updates.
