$ETH

ETH/USDT Daily Chart Analysis – Late April 2025

The daily chart of ETH/USDT on Binance presents a cautiously optimistic outlook. As of now, Ethereum is trading at $1,809.70, reflecting a +1.41% gain over the past 24 hours. The chart highlights a significant recovery phase after a prolonged downtrend that began earlier in the year.

Initially, from February through mid-April, Ethereum displayed a consistent pattern of lower highs and lower lows, indicative of bearish sentiment dominating the market. Sharp drops can be seen, particularly during February and early March, where price action sharply declined before forming brief periods of consolidation and minor bullish retracements.

However, a noticeable shift has occurred recently. Around mid-April, ETH formed a strong bullish engulfing pattern, breaking a short-term resistance and propelling the price upward. This breakout is supported by a notable increase in daily trading volume, hinting at strong buyer interest returning to the market. Currently, ETH seems to be consolidating just below the psychological resistance at $1,850, after bouncing off the lows around $1,750.

The price action suggests that if Ethereum can maintain momentum and break above the $1,850-$1,870 range, a move toward $2,000 could materialize in the near term. Conversely, failure to hold above $1,800 might lead to a retest of the $1,750 support zone.

Overall, while the broader trend remains cautious, short-term technicals are leaning slightly bullish with signs of trend reversal starting to emerge. Traders should watch the upcoming sessions closely for confirmation of a sustained breakout or a potential pullback.