Will ETH Rise Again? Here's What the Chart Says
Ethereum ($ETH ) is currently priced at $1,810.96, showing a slight positive shift of +0.77% in the past 24 hours. But to really understand where it’s heading, we need to zoom out and look at the bigger picture shown in the 1-week candlestick chart.
From a high of $4,107.80 reached in early 2024, ETH has been in a clear downtrend. The steady string of red candles and lower highs over the months paints the picture of a weakening trend. The latest major low was $1,385.05, and while there’s been a small bounce to the current level, the momentum is still cautious. This small rally appears more like a relief or technical bounce than the start of a full-blown reversal—at least for now.
Looking at the volume bars, we can see there was a spike in sell volume during the sharp drop toward $1,385, followed by moderate buying interest trying to build support around the $1,800 range. The 1-week MACD and RSI indicators (while not visible directly here) are likely still bearish or oversold, which may hint at short-term recovery, but nothing explosive unless broader market sentiment shifts.
The order book shows strong buying interest (87.02% of orders are bid), suggesting that traders are eager to scoop up ETH at these lower levels. That kind of imbalance can often precede short-term upward price pressure. However, resistance lies tight above at every few dollars—$1,811, $1,812, $1,813—which means ETH might need strong volume or a macro catalyst to break above these micro-walls.
So, what's next? Unless ETH can break above $2,000 and hold, it's likely to remain range-bound between $1,700 and $1,900. The overall trend is still bearish from a mid-to-long-term perspective, but short-term optimism may offer tradable bounces. If the broader crypto market recovers or ETH-related developments kick in, we could see a trend reversal start to form—but we’re not there yet.
