Ethereum Poised for Breakout – Key Levels to Watch
Ethereum ($ETH ) is currently trading around $1,828, showing a slight upward movement of approximately 0.11% in the last 24 hours.
📈 Technical Analysis Summary (May 4, 2025)
Price Consolidation: Ethereum has been consolidating in a tight range, a pattern often referred to as 'coiling up,' which historically precedes significant price movements.
Resistance Levels: The key resistance level to watch is around $1,850. A successful breakout above this level could pave the way for further gains.
Support Levels: On the downside, strong support is observed near $1,800. Holding above this level is crucial for maintaining the bullish outlook.
Volume and Momentum: Trading volume has been relatively low, suggesting a potential squeeze. A surge in volume accompanying a breakout could confirm the next major move.