Apr 13, 2025
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Ethereum Surges 21% But Remains Below Key Resistance Levels
Ethereum Price Movement
- Ethereum surged over 21% from a low of $1,380 following US President Trump's announcement of a 90-day tariff pause for all countries except China.
- The price is currently at $1,650 but struggles to break the $1,700 resistance level.
- Despite the recent bounce, ETH remains below critical technical levels, maintaining a consolidation phase rather than confirming a reversal.
Market Context
- Ongoing macroeconomic uncertainty and trade tensions have affected investor confidence, contributing to Ethereum's 60% value loss since late December.
- On-chain data indicates ETH trades below its realized price, historically representing an accumulation zone.
- Analysts suggest this could be a rare buying opportunity for long-term investors.
Technical Analysis
- Key resistance levels to reclaim are above $1,850, aligned with moving averages crucial for trend confirmation.
- If ETH fails to surpass $1,750 soon, it risks falling below the $1,500 support zone.
- A decisive move above resistance is essential for shifting market sentiment from bearish to neutral.
