NewsBTC
Apr 30, 2025
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Ethereum Price Consolidates Above $1,780 with Resistance at $1,850

Ethereum is consolidating around the $1,800 level after a downside correction from $1,850.

  • ETH traded below $1,800 but remains above $1,780 and the 100-hourly Simple Moving Average.
  • A short-term contracting triangle is forming, with resistance at $1,810 on the ETH/USD hourly chart.
  • A potential increase may occur if the price surpasses the $1,850 resistance zone.

Price Analysis

Ethereum held steady above $1,745 and briefly climbed past $1,800 before facing selling pressure. Key points include:

  • Recent high of $1,842 followed by a correction below $1,820.
  • Support is active near $1,780 and the 61.8% Fib retracement level from the recent low to high.
  • Current trading is above $1,780 and the 100-hourly SMA, with hurdles near $1,810 and $1,820.
  • The first major resistance stands at $1,850; a breakthrough could target $1,920 or higher levels, including $1,950 and $2,000.

Potential Declines

If Ethereum does not break above $1,850, a decline is possible:

  • Initial support is near $1,780, with major support at $1,750.
  • A drop below $1,750 could lead to further declines toward $1,620 or $1,600, with critical support at $1,550.

Technical Indicators

  • MACD shows bullish momentum.
  • RSI is above the 50 mark.
  • Major Support Level: $1,780
  • Major Resistance Level: $1,850