4 min readWelcome to today’s technical update on Ethereum (ETH/USD).
Ethereum continues to trade in a consolidative yet bullish structure, supported by recent price action that has seen the market recover from April’s lows. The broader cryptocurrency market remains mixed, with Bitcoin trading near resistance and several altcoins, including Ethereum, attempting to build bullish momentum.
Despite continued uncertainty in broader risk assets, Ethereum has shown relative strength, supported by a combination of technical breakouts and demand at key moving averages.
Technical outlook
From a technical standpoint, Ethereum remains in a consolidative but bullish structure, currently trading around $1,836 at the time of writing this article. Both the daily 10 EMA and the daily 50 SMA are positioned just below current price, offering dynamic support. At present, these moving averages are both aligned around $1,786, creating a well-defined support zone that has held firm over recent sessions.
It is also worth noting that Ethereum has recently confirmed a break above a long-term descending trendline, which was formed by connecting the swing highs from the broader downtrend that began in December 2024. This breakout signals a potential shift in the longer-term structure, with buyers beginning to regain control.
To the upside, the 200 SMA is positioned at $2,726, acting as a potential high timeframe resistance level. This moving average is also in confluence with a broader high timeframe resistance zone, reinforcing the importance of this level should price attempt a breakout higher.
Key levels to watch
Resistance: $1,873, $2,060, $2,400, and the high timeframe resistance area around the daily 200 SMA at $2,726
Support: the zone around the 10-day EMA and 50-day SMA at $1,786, followed by $1,670
A sustained break above $1,873 could open the path toward testing $2,060 and potentially $2,400. Conversely, a move below the $1,786 support area might indicate a deeper pullback toward $1,670.
While the technical bias remains bullish, failure to hold above the moving averages and long-term trendline breakout could open the door to deeper retracements in the coming sessions.
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