ETH/USDT (4-hour chart) Brief Technical Analysis (as of April 17, 2025)

📈 Current Price: 1,598.70 USDT

Price Change: +0.87%, attempting to continue the short-term rebound trend.

🔹 Trend Observation:

ETH has formed a local low around 1,400 and is currently rebounding; it is now close to the key level of 1,600;

Overall, it is still in a medium-term downward channel, but in the short term, it may have formed a small double bottom pattern, showing initial signs of a halt in decline.

🔹 RSI Indicator Analysis:

RSI (14) is currently at 49.47, slightly below 50;

The RSI moving average is at 48.02, showing a slight upward turn;

The indicator is in the neutral zone, with slight strong signs, but has not significantly broken through the momentum critical value;

If it breaks above 50 and holds, it may indicate that the price will test higher resistance levels.

🔹 Key Support and Resistance:

Support Levels:

1,550 (short-term support, if it retraces without breaking, bulls are likely to continue);

1,480~1,500 (previous low support area);

1,400 (key level for the stage bottom).

Resistance Levels:

1,620 (near previous high, currently being tested);

1,680~1,700 (secondary strong resistance);

1,800 (if broken, medium-term structure is likely to reverse).

🔸 Volume Analysis:

During the rebound, the overall volume is acceptable, but there has been no significant increase;

If there is an increase in volume and it breaks above 1,620, it can be seen as a short-term strong signal;

Otherwise, it may still maintain a fluctuating state.

✅ Strategy Suggestions:

Short-term Strategy:

If the price holds above 1,600 and the RSI breaks above 50, consider lightly entering a long position;

If it breaks below the 1,550 support, it is advisable to stop-loss or wait for the next confirmation.

Medium-term Strategy:

Closely observe the performance at the 1,620 resistance; only a breakout with volume would suggest the possibility of a medium-term reversal;

Otherwise, it should still be treated as a weak fluctuation.

📌 Conclusion: ETH is in an attempt to rebound, with momentum rising moderately; focus on the breakthrough and volume cooperation in the 1,600~1,620 range. If it successfully holds, it is likely to challenge the 1,700 area.