$ETH

Ethereum (ETH) Market Analysis on April 20, 2025

Today, the price of Ethereum fluctuated narrowly around $1,610, with the daily line continuously closing with small gains. However, the rebound momentum is clearly insufficient, and there is strong resistance at $1,650 (200-day moving average + Fibonacci 50% retracement level). Technical indicators show that the MACD golden cross on the 4-hour chart has not seen volume expansion, and the RSI is in the neutral zone at 55. In the short term, it may test the support range of $1,580-$1,600, and if it breaks below, it could trigger leveraged liquidations exceeding $336 million.

On-chain data shows that the supply of ETH on exchanges has increased to a four-week high, coupled with miners selling 2,143 ETH in a single day, intensifying short-term selling pressure. However, whale addresses have recently accumulated over 56,000 ETH, and network activity has rebounded (daily trading volume increased by 30%), indicating long-term capital confidence.

Strategy suggestion: Sell high and buy low within the range, with a light position long at the support level of $1,580, and short at the resistance level of $1,650, setting stop losses at $1,550 and $1,670 respectively. In the medium term, pay attention to the breakthrough situation at the psychological level of $1,600; if it holds, it may rebound to $1,680, otherwise, it may test the liquidation threshold of $1,450.