Ethereum gains 0.61% daily as bulls defend the $1,780 level and target $1920
Ethereum has seen price reductions from its previous peak of $1842. However, it has risen again as bulls protect the $1780 support level. The rise in ETH price shows increasing strength by gaining 0.61% daily and maintaining a value of $1810.07 while staying above the 100-hour SMA. Volume has risen by 8.40% to $15.16 billion, indicating new interest, while the market cap stands at $218.53 billion. The key resistance for Ethereum is at $1850, while the price support is at $1780. An increase in ETH price may lead to a retest of the $1920 mark if bulls continue to apply pressure, maintaining bullish sentiment in the Ethereum market.
Ethereum consolidation: Will bulls reclaim $1850 to sustain the bullish trend?
ETH faces transient resistance at $1810, which formed a contracting triangle pattern. The pair turned positive by breaking above the $1800 area after a rebound from a low point of $1746. ETH gained significant price support when it reached $1780 as this level matched the 61.8% Fibonacci level of the previous price action. A successful price momentum that exceeds $1850 will initiate a new price movement for ETH towards $1920 and possibly $2000 to bolster ETH market sentiment. However, failure to breach the key ETH resistance may lead to another decline towards $1750, testing support and potentially weakening short-term rally expectations.
The chart confirms a bullish trend structure despite the pullback below $1820
The price of Ethereum faced temporary selling pressure after reaching a local high of $1842. This led to a pullback below $1820. The rise in ETH price showed resilience as buyers entered the market near the $1,780 resistance point, which serves as a critical support threshold. The short-term contracting triangle pattern formed on the hourly chart indicates that the market needs time to stabilize before its next big move. Trading volume steadily increased during this period. This reflects a rise in market interest accumulation before an anticipated breakout. The key ETH resistance remains at $1850 across the market.
Chart 1 - ETH/USD, published on TradingView, April 30, 2025.
Ethereum will face a renewed price rally from the $1850 resistance until it reaches $1920 and may extend to $2000. ETH's price may experience downward pressure and potentially retest levels of $1750 or $1620 if traders fail to push above $1850. Technical indicators and MACD and RSI show continued bullish signs supporting the potential for another upward movement.
MACD turns bullish as Ethereum gains strength for another push higher
With MACD turning bullish and RSI climbing above 50, it appears that the ETH price rally is ready to continue. The current technical setup aligns with historical rebound areas near the Ethereum price support of $1780. Volume remains healthy, and market participants view Ethereum's key resistance at $1850 as a potential trigger. If Ethereum maintains this momentum, we may see a renewed rally in Ethereum prices above key psychological levels. This would attract more flows into the ETH market from sidelined traders.
What's next: Will ETH rally or drop below $1750?
There is currently a technical turning point for Ethereum. ETH's price increase may begin its round towards $1920 if it breaks the key ETH resistance at $1,850. However, a drop to $1750 or possibly $1620 could occur if it fails to hold the Ethereum price support at $1780. The Ethereum market remains in flow, driven by overall sentiment and activity on-chain. Currently, the ETH Price Rally holds, but traders should closely watch support areas for clues. The question is - will Ethereum's price rally hold, or is another correction imminent?
#Ethereum #Bulls #Rally #Where #Dollars #About #Level #Targeting #Gaining #Daily