Although Ethereum has shown an increase of more than 10% weekly, the decline of the ADX to 24.91 indicates weakening trend strength. This situation shows that caution is needed amid rising selling pressure. Ethereum's RSI value has risen to 56 after sharp fluctuations. While a cautious upward momentum has been observed as we enter May, this momentum is fragile.

Ethereum is currently facing critical resistance at the level of 1,828 Dollars. If an upward movement occurs towards the 1,954 Dollar level, this indicates that bullish momentum continues. However, if the support level at 1,749 Dollars is broken, a deeper correction may be possible.

Ethereum's Trend is Weakening: Are Bears Approaching?

Ethereum's DMI indicator shows that the ADX is at 24.91, sharply down from 39 two days ago. ADX (Average Directional Index) measures the strength of a trend, with values above 25 indicating a strong trend, and values below 20 indicating a weakening market or horizontal movement.

This sharp decline in the ADX indicates that Ethereum's momentum is rapidly losing strength. If buying or selling pressure does not come back into play, ETH may exhibit a volatile and horizontal trend in the short term. Additionally, the +DI (indicator tracking bullish pressure) fell from 31.71 three days ago to 27.3, and then to 22.71 yesterday. This decline signals that bullish momentum is weakening. On the other hand, the -DI (indicator tracking bearish pressure) rose from 7.16 to 15.64, and then to 17.68 yesterday. This indicates that bearish pressure is increasing and sellers are gaining strength in the market.

RSI and Momentum: A Fragile Balance in Ethereum

Ethereum's RSI value is currently at 56, lower than the 45.5 from a day ago and the 70.46 level from four days ago. The RSI, as an indicator measuring the speed and magnitude of price movements, indicates that a value above 70 signifies that the asset is overbought and that it's time for a correction, while a value below 30 signals oversold conditions. Values between 30 and 70 are considered neutral. The fluctuation in Ethereum's RSI suggests that sentiment towards ETH has been unstable recently.

As the RSI rises to 56, ETH gained momentum after dropping from the neutral zone to the bearish zone. An RSI reading above 50 shows a slight bullish tendency and indicates that buyers have gained some control, but not with great strength. If the RSI rises above 60, this could be a renewed bullish signal for Ethereum. However, if momentum halts and the RSI pulls back, this indicates that the recovery is losing speed and Ethereum may enter a broader price stagnation or correction process.

Critical Price Levels and Possible Movements

Ethereum's price has attempted several times in the last few days to break above the resistance level at 1,828 Dollars. If ETH can break and hold above this level decisively, a stronger upward movement may begin. The next target will be 1,954 Dollars, and if bullish momentum remains strong, a rally up to 2,104 Dollars is possible. If Ethereum enters an aggressive upward trend, it may test 2,320 Dollars, which could be a sign of a major bullish expansion.

However, there are also downward risks. If Ethereum cannot maintain its current level and the trend reverses, the first critical support area is at 1,749 Dollars. If it falls below this level, a deeper move towards 1,689 Dollars may occur. In the event of increased selling pressure, ETH's downward trend may extend, and support levels at 1,537 Dollars and 1,385 Dollars may come into play.

Loss of these levels may signal a deeper correction and indicate that the recent recovery efforts are temporary.


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