Ethereum price holds up after surge, will it continue to rise?

Jakarta, Pintu News – Ethereum (ETH) recently experienced a significant price surge, breaking through the $1,750 resistance. Currently, ETH is in a consolidation phase and may try to break the $1,840 resistance.

Ethereum Price Momentum Strengthening

Ethereum (ETH) managed to maintain stability above the $1,650 level and started a fresh rise, similar to Bitcoin (BTC). ETH managed to break the $1,700 and $1,720 levels. Market participants even managed to push the price past the $1,750 level.

The currency pair even surged above the $1,800 zone. The highest point was recorded at $1,843, and recently the price started consolidating. There was a drop towards the 23.6% Fibonacci retracement level of the rise from the low of $1,565 to the high of $1,834.

Consolidation or Reversal?

Currently, Ethereum (ETH) price is trading above $1,720 and the 100-hourly simple moving average. There is also a bullish trend line forming with support at $1,780 on the hourly chart of ETH/USD. On the upside, the price seems to face resistance near the $1,820 level. The next key resistance is near the $1,840 level.

The first major resistance is near the $1,880 level. If it manages to cross the $1,880 resistance, the price might head towards the $1,920 resistance. In case of a breakout above the $1,920 resistance, it might trigger further gains in the coming sessions. In that scenario, Ether could rise towards the $1,950 or even $2,000 resistance zone in the short term.

Support During a Downturn

If Ethereum (ETH) fails to break the $1,820 resistance, there could be a new drop. Initial support on the downside is near the $1,780 level. The first major support lies in the $1,740 zone.

In case of a clear drop below the $1,740 support, the price might be pushed towards the $1,700 support or the 50% Fibonacci retracement level of the rise from $1,565 low to $1,834 high. Further losses will probably send the price towards the $1,665 support level in the short term. The next key support is at $1,620.

Technical Indicators

The hourly MACD for ETH/USD lost momentum in the bullish zone. The hourly RSI (Relative Strength Index) for ETH/USD is now above the 50 zone.

Conclusion

With strong technical support and continued momentum, Ethereum (ETH) seems to be in a good position to continue its upward trend. However, it is important for investors to monitor support and resistance levels that could influence the direction of the next price movement.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

NewsBTC. Ethereum Price Holds Ground at $1740, What Could Trigger Fresh Increase. Accessed on April 24, 2025
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