$ETH #Ethereum Forms Long-Legged Doji On Monthly Chart – Reversal Or Just A Pause?

Ethereum (ETH) has printed a long-legged doji on the monthly chart for April, signaling a moment of deep market indecision. This rare candlestick pattern appears when buyers and sellers push the price significantly in both directions but ultimately settle near the opening level. In technical terms, it often foreshadows a potential trend reversal or a pause in momentum.

After a strong Q1 rally that saw ETH breach the $3,500 mark, April’s candle shows clear signs of exhaustion among both bulls and bears. The long wicks indicate heightened volatility, while the small real body suggests a standoff. With Ethereum currently consolidating near the $2,900–$3,000 range, traders are watching closely for confirmation.

Will this doji mark the beginning of a deeper retracement, or is it simply a breather before the next leg up?

Key levels to watch:

Support: $2,700 – $2,800 zone

Resistance: $3,200 and $3,500

Volume and RSI: Momentum indicators show cooling enthusiasm, but no clear bearish divergence—yet.

Bottom Line:

The next few weekly candles will be critical. A strong move above April’s high could invalidate the bearish potential of the doji, while a break below the low may confirm a trend shift.

What’s your take—is Ethereum gearing up for a breakout, or preparing for a correction?

#ETH #CryptoAnalysis #TechnicalAnalysis #EthereumPrice #CryptoTrading