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Ethereum Technical Analysis Report – 29th April 2025
As of the current market situation, it is evident that Ethereum (ETH) has been exhibiting a significant amount of volatility in its journey. The cryptocurrency, which soared past $4,000 in late 2021, plummeted to just $880 during the crypto winter of 2022. However, ETH rebounded and rose above $3,000 following the approval of spot Ether ETFs by U.S. regulators in mid-2024.
At present, ETH trades near $1,580—down a staggering 40% year-to-date, yet still up roughly 70% compared to the same time last year. The combination of ETF infrastructure and MiCA regulatory clarity is opening doors for institutional adoption, allowing wealth managers to consider ETH allocations of 1-2% in diversified portfolios.
Remarkably, even a 1% portfolio shift from OECD pension funds could drive an estimated $150 billion in new demand—equivalent to around 80% of ETH’s current free-floating supply. As the time of writing, ETH was trading at $1,799.
ETH has been trading within a ‘Descending Channel’ pattern and plummeted almost 65% from $4,108 to $1,385. The bulls, however, defended the key support level of $1,350, and the price bounced almost 32%, making the recent high of $1,857.
Following this move, the asset is consolidating and is trading in a narrow range from $1,750 to $1,840 with declining volumes. Once it gives a breakout above $1,850 with good volumes, we may expect it to further rally up to $2,150.
Key Levels:
* Support 1: $1,500
* Support 2: Not mentioned
* Asset: ETH
* Resistance 1: Not mentioned
* Resistance 2: $2,150
Source: https://zebpay.com/blog/ethereum-technical-analysis-report-29th-april-2025
