Ethereum (ETH) Analysis — April 2025
Current price: $1790
Overview:
Ethereum (ETH) continues to trade under clear selling pressure, moving near key support levels after a series of consecutive declines. The current price reflects a state of caution and a search for a stable bottom amidst the general weakness in liquidity in the cryptocurrency market.
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Technical analysis:
• Overall trend: Bearish.
• Key support: $1700 — represents a critical area to defend prices.
• Near resistance: $1850, followed by $1900 as a stronger resistance.
• Momentum indicators:
• The Relative Strength Index (RSI) is trading below the 50 level, reflecting continued negative pressure.
• Moving averages (MA 50 and MA 200) show a negative crossover supporting the bearish trend.
• Potential price patterns: There is a possibility of forming a double bottom at the $1700 level if the price maintains this area without a clear break.
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Fundamental analysis:
• There are no strong positive catalysts to support a rise at the moment.
• Bitcoin's dominance in the market is increasing, putting pressure on the performance of Ethereum and alternative coins.
• The state of anticipation dominates investors as they await new economic or regulatory developments.
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Forecasts:
• If it holds above $1700: we may see a rebound towards $1850 - $1900.
• If it breaks below $1700: Ethereum may target lower levels at $1600 or even $1500.
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Summary:
Ethereum is going through a critical phase, with the need to closely monitor the $1700 area to determine the next direction. Commitment to risk management is essential during this period of uncertainty.
