Apr 30, 2025
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Ethereum Price Completes Market Structure Break Above $1,500
Technical analysis indicates that Ethereum's price is showing signs of recovery after breaking a key market structure. The following points summarize the current situation:
- Ethereum has completed a market structure break just above $1,500.
- After dropping to $1,415 earlier this month, bullish traders accumulated significantly during the dip.
- This buyer interest helped reverse downward momentum and established support around the $1,500 area.
- Current price movements suggest an upward trend towards the $1,900 resistance level, which aligns with the 50-week moving average.
- A sustained break above $1,900 could lead to targets of $2,800 and $4,400.
The daily chart reveals a fair value gap between $1,900 and $2,800, which needs to be filled for a stable rally. As of now, Ethereum is trading at $1,830.
