Ethereum's Recent Price Action: A Rollercoaster Ride Around $1,800
Ethereum's Price Dips from Peak of $1,850, Settles Around $1,810 Level
Ethereum (ETH) has seen some rollercoaster-style price movements lately, briefly spiking above $1,800 before experiencing a slight decline. The initial surge had some promising momentum, but ran into resistance around the $1,800 mark, pulling back towards the $1,750 level. At the moment, Ethereum is trading around $1,810.74, up a mere 0.09% over the last day, and boasting a market valuation of $218.6 billion. The $1,750 Ethereum price support is considered crucial to prevent any losses.
Ethereum Price Rally Faces Resistance
Ethereum encountered a significant rejection close to the $1,800 critical resistance zone, reaching a high of $1,850 before a rejection. A break below a positive trend line on the hourly chart further slowed the ETH price rally. Buyers have hung on to the $1,750 ETH price support, leaving the door open for fresh upward momentum. A renewed effort to reach $1,850 and possibly more can occur if the ETH price surge regains momentum and breaks through the $1,800 barrier. However, if the $1,750 support is lost, potentially more severe drops are on the horizon as Ethereum finds support in lower price levels.
Crucial Support at $1,750 for Sustaining Ethereum's Price Rally
The short-term technical outlook for Ethereum is complex due to the hurdles the ETH price rally faces. Sellers might be weakening, as indicated by the hourly MACD showing waning bearish momentum. However, the RSI remains below the critical 50 level, suggesting caution in the trading environment. Additionally, Ethereum continues to trade below its 100-hour Simple Moving Average, a strong resistance level. The significance of the $1,750 ETH price support is further supported by its proximity to the 76.4% Fibonacci retracement level from the $1,723 to $1,848 swing.
Chart 1 - ETH/USD live price, published on TradingView, April 28. 2025
A decisive close above the $1,800 ETH key resistance could rejuvenate the ETH price rally, potentially aiming for $1,850 and higher. However, Ethereum can face renewed selling pressure if the $1,750 support is not maintained. In such cases, Ethereum might decline near the $1,700 mark, with further downside threats targeting $1,650 and potentially $1,620.
What Lies Ahead for Ethereum's Price Rally After the Recent Correction?
The ability to recover and maintain levels above the 100-hour Simple Moving Average is essential for the short-term success of the ETH price rally. Traders are closely monitoring the $1,750 Ethereum price support and the $1,800 ETH key resistance. If the resistance is overcome, a retest of $1,850 might be in order; however, a decline below $1,700 could lead to intensified selling. Long-term momentum indicators continue to support the overall ETH price rally, provided key support zones are held.
Key Factors Influencing Ethereum's Price Dynamics
- Technical Patterns and Resistance Levels: Ethereum faces strong resistance near $1,800, with a possible bullish flag pattern emerging on price charts. A confirmed breakout above $1,800 could catapult ETH towards $2,100, while failure risks a retest of support levels at $1,755 or $1,690.
- Market Sentiment and Altcoin Season Dynamics: Increased altcoin momentum is visible as Bitcoin’s dominance slips to 51.7%, with capital rotating into ETH, Solana, and meme coins. This shift suggests a growing risk appetite among traders, historically a precursor to altcoin rallies. Ethereum’s 2% daily gains reflect this renewed optimism.
- Network Upgrades and Ecosystem Growth: Anticipation around Ethereum’s “Purge” upgrade aims to streamline node operations and reduce historical data burdens, potentially improving network efficiency and staking appeal. Continued growth in DeFi and institutional adoption adds further strength to ETH’s fundamentals.
- Institutional Activity and ETF Flows: Analysts note whale accumulation at lower price levels and steady ETF-related inflows, creating a stronger support base. Additionally, the daily chart shows an ascending triangle pattern targeting $2,500–$2,700 if the $1,800 breakout holds by May 2025.
- Price Targets and Momentum Indicators: While short-term predictions suggest a $1,850–$2,000 range for April, longer-term forecasts range from $3,000–$3,200 by August to $5,000 in 2025. The RSI above 60 and MACD bullish divergence support this trajectory, though failure at $1,800 risks consolidation below $1,750.
- Despite the decisive rejection at the $1,800 Ethereum (ETH) critical resistance zone, a break above it could potentially spark a price rally towards $1,850 and beyond, as suggested by the bullish flag pattern emerging on the charts.
- On the other hand, a decline below the crucial $1,750 Ethereum price support might trigger renewed selling pressure, pushing the price near the $1,700 mark, and potentially targeting lower levels at $1,650 or even $1,620.
- The recent surge in altcoin momentum, reflected by a decline in Bitcoin’s dominance and capital rotation into Ethereum, Solana, and meme coins, strengthens the optimism surrounding ETH’s potential price rally.
- Technological advancements, such as the upcoming Ethereum “Purge” upgrade which aims to streamline network operations and reduce historical data burdens, contribute to Ethereum’s long-term growth and staking appeal.
- Institutional buying activity and regular ETF-related inflows have been creating a robust support base for Ethereum, offering potential stability during market volatility and pushing towards long-term price targets, such as $3,000–$3,200 by August and $5,000 in 2025.
