**🔻 Ethereum's Price Rollercoaster**

Ethereum has been on a wild price ride in the past four months. Its price has plummeted a staggering 62%, dropping from $4,100 all the way down to $1,607. 😱 However, there was a glimmer of hope when it experienced a 9.8% rise in 24 hours. This sudden surge came hot on the heels of President Trump's announcement of a 90 - day reciprocal tariff freeze. But even with this boost, ETH still remains firmly in a downtrend. Now, the big question on everyone's mind is whether it can break through the $1,809 resistance level or will it succumb to the downward pressure and fall below $1,100? 🤔

**📉 Technical Analysis and Support/Resistance Levels**

After being hammered in late March and early April, Ethereum is now trying to find its footing around the $1,550 mark. On April 9, a large green candle emerged, indicating some purchase demand at these current levels. But here's the catch - this candle has minimal volume, which is a bit of a red flag. It could mean that this so - called "dramatic reversal" might not be as strong as it seems. Looking at the EMAs (Exponential Moving Averages), all the important ones are in a bearish position above the current price. The 50 EMA, in particular, is acting as a tough resistance point above $2,000. Without a bullish crossing of these EMAs, the significant distance between the current price and the EMAs suggests that a substantial downturn could still be on the cards. 📊

**📈 RSI and Channel Analysis**

The Relative Strength Index (RSI) for ETH stands at 37.17. It's getting close to the oversold territory but isn't there just yet. This indicates that a technical bounce might be possible. However, it's worth noting that the RSI has been on a downward slide since December and has shown no positive divergences so far. In terms of the price channel, ETH is clearly in a downtrend. The price has inched close to the lower trendline of the channel, which means it's about to face a crucial support test. Usually, in such situations, the price action continues until there's a breakthrough, either upwards or downwards.

There are several major resistance levels to keep an eye on. These include $1,785, the psychological $2,000 mark, and $2,385. On the flip side, the immediate support level is at $1,539, and the psychological support is at $1,500. Interestingly, the previous rebound for ETH came from the bottom limit of the channel, which shows that there are some determined buyers out there actively defending this level.

**💥 Future Price Projections**

If ETH fails to hold and falls below the bottom limit of the channel, its immediate target could be $1,400. That would mean a substantial 13.5% drop from its current levels. On the other hand, if it manages to break definitively above the top border of the channel, ETH could potentially reach the 50 - day EMA at $2,000. But achieving this would require a significant 23.7% increase. It's a high - stakes game for Ethereum investors, and all eyes are on the price action in the coming days. 🚀📉

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**🚨 Disclaimer 🚨**

The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies, such as Ethereum, can be extremely risky and may lead to substantial financial losses. The cryptocurrency market is highly volatile and subject to various factors including market sentiment, regulatory changes, and global economic conditions. Always conduct thorough research and consult a qualified financial advisor before making any investment decisions.