Ethereum has made a remarkable comeback after a period of extended volatility and downward pressure by reclaiming $1,800. This price action of ETH has captivated the attention of traders and investors, sparking speculation about whether ETH is beginning a new phase of market recovery. Analysts predict that Ethereum price movement could indicate a renewed bullish trend if the macroeconomic factors stabilize and investors’ sentiment improves. But many market participants are still wondering whether this uptick is a sustainable trend reversal or merely a temporary rally.
Here’s the last 24 hours of ETH price action to find whether this milestone marks the early stage of a broader recovery in the crypto market.
Ethereum Dives to $1,748.53 – April 28, 2025
On April 28, 2025, Ethereum trading day established a dynamic price action, reflecting ongoing market fluctuations. In the early trading session, the price movement of Ethereum began with a brief fall. However, at 01:30 UTC, an RSI oversold situation hinted at a potential uptrend. As expected, at 01:40 UTC, the price then found support at $1,758, breached a breakout, and entered an upward momentum. A Golden Cross on the moving average at 2:00 UTC reassured this uptrend.
At 04:25 UTC, ETH entered an RSI Overbought zone, indicating a potential trend reversal. Likely, at 09:30 UTC, a pin bar formed as ETH tested a resistance level of $1,811.36. Shortly after, the price found support at $1,793.48, and an uptrend occurred. A Golden Cross on MACD affirmed this temporary bullish trend.
Chart 1 – Analyzed by Buvaneswari_L, published on TradingView, April 29, 2025
At 11:40 UTC, a pin bar, followed by a full-body key bar, signaled a price decline. At $1,824.35, the Ethereum price today resisted and began to experience a sharp fall. A Death Cross on MACD at 11:45 UTC confirmed this downtrend. Later, at 13:30 UTC, the price broke the support at $1,793.48, breached a breakout, and experienced a sharp price fall. Considerably, this downtrend led to a short breakdown at 15:50 UTC and pushed ETH to the low of $1,748.53 at 16:25 UTC. RSI Oversold conditions and Golden Cross on MACD coincide at 16:20 UTC, indicating a potential trend reversal.
As expected, the price rebounded and moved upward. Subsequently, at 19:35 UTC, a pin bar performed as a signal bar, followed by a key bar and a full-body red candle, signaled a resistance level and indicated a trend reversal. A Death Cross on MACD at 20:00 UTC assured this downtrend. But at 21:20 UTC, support was found at $1,780, moved up, and closed at $1,798.99.
Ethereum Rebounds Above $1800 – April 29, 2025
As illustrated in Chart 1, on April 29, 2025, the Ethereum trading day started with a short rise. At 01:05 UTC, a pin bar, followed by a full-body red candle, signaled a downtrend. Likely, the Ethereum price today resisted at $1,804.77 and kept fluctuating within the key levels. However, at 06:10 UTC, the price broke the key resistance at $1,804.77, breached a breakout, and experienced an upward trajectory.
Is This the Start of Ethereum’s Bullish Momentum?
In the last 24 hours’ price outlook, the Ethereum price movement has signaled a sharp upward momentum. However, market participants are still wondering whether this uptrend is an early stage of sentiment or just a short-term momentum. If the ETH price continues its upward trajectory, it could strongly build its bullish momentum. If it fails to move up, ETH could experience a sharp fall, which could lead to a correction. Closely monitor the key levels to understand its market momentum.
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