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Ethereum Gains Momentum as Bulls Target Further Upside
April 30, 2025 – Ethereum’s price has started a new decline from the $1,850 level. However, it appears that the bears’ power is waning, and the bulls are taking control once again.
ETH/USD Chart
Source: Bitcoinik.com
Currently, ETH is trading around the $1,800 zone, indicating a possible attempt to break above the resistance at $1,820. The price is hovering above the 100-hourly Simple Moving Average, which may lead to further gains.
According to technical analysis, Ethereum’s short-term outlook appears favorable for buyers. A converging triangle pattern with resistance at $1,810 has formed on the hourly chart of ETH/USD. This suggests that bears are losing momentum, paving the way for a potential increase in price.
In order to validate this uptrend, ETH will need to surpass the significant resistance level at $1,850. If successful, the asset could potentially target levels such as $1,920 and even $2,000 or more in the upcoming sessions.
On the other hand, if Ethereum fails to break above $1,850, it may be heading towards a decline. The initial support for this scenario is situated around $1,780, followed by the critical zone at $1,750. A drop below this point could lead to further losses and potentially push the price down to $1,620 or even $1,600.
For now, Ethereum’s hourly RSI (Relative Strength Index) is above the 50 zone, indicating a bullish momentum in the short-term. The MACD (Moving Average Convergence Divergence) for ETH/USD has also entered a positive zone, supporting this notion.
To summarize, while there are risks associated with trading any asset, our analysis suggests that Ethereum’s current trajectory favors further upside.
Source: https://bitcoinik.com/ethereum-gains-momentum-as-bulls-target-further-upside/
