Technical Analysis of Ethereum (ETH) – April 2025
Ethereum (ETH) experienced significant fluctuations during April between key support and resistance levels, influenced by the anticipation in the cryptocurrency market and developments related to the upcoming network upgrade.
Price Movements:
The price began the month trading near the $3,200 level, but faced strong resistance at $3,400, which represents a previous peak.
The price temporarily retreated towards $3,000, where it found strong technical support that pushed it back up.
Currently, the price is moving between $3,050 - $3,350 in a narrow sideways channel, awaiting a clear breakout in either direction.
Technical Indicators:
The Relative Strength Index (RSI) is currently trading near the 50 level, indicating market neutrality.
The MACD shows a slight positive crossover, which may suggest weak bullish momentum.
The price is still above the 50-day moving average, supporting a positive outlook in the medium term.
A breakout above the $3,400 level could drive the price towards targets ranging between $3,600 and $3,800.
Conversely, breaking the support at $3,000 could open the door to test the $2,850 - $2,700 areas.
Conclusion: Ethereum is currently moving within a narrow range, awaiting strong catalysts that could push it to break this range. It is important to monitor technical and network news pertaining to the network, as they can have a direct impact on price movement in the near term.
