Ethereum (ETH) Price Analysis: Ether Resumes Downtrend, Unable To Sustain Above The $2,400 High


Key Highlights
Ethereum faces rejection twice at the $2,600 resistance
Ether resumes downtrend breaks 21-day SMA

Ethereum ETH) Current Statistics
The current price: $2,193.03
Market Capitalization: $253,577,098,826
Trading Volume: $29,915,500,106
Major supply zones: $2,000, $2,200, $2,400
Major demand zones: $1,800, $51,600, $1,400

Ethereum (ETH) Price Analysis April 25, 2021
Ethereum’s uptrend is facing rejection at the $2,600 resistance zone. On April 15, the bulls were repelled at the $2,600 resistance zone. The biggest altcoin fell to $2,100 and resumed upward to retest the previous highs. On April 22, there was price spike that broke the overhead resistance. However, the bulls could not sustain the uptrend as price plunged on the downside. Selling pressure is likely to resume on the downside.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether price is attempting to break below the 21-day SMA; A break below the moving averages will accelerate the downward movement of prices. Presently, the crypto’s price is above the 21-day SMA and 50-day SMA which suggests a rise in price movement.

ETH/USD – 4 Hour Chart

On the 4-hour chart, the Ethereum price is in a downward move. The altcoin dropped to $2,100 low as price corrected upward. The upward correction faces rejection at $2,400. The implication is that the downtrend is likely to continue. Meanwhile, on April 23 downtrend, a retraced candle body tested the 61.8% Fibonacci retracement level. This retracement indicates that Ethereum will fall to level 1.618 Fibonacci extension or the low of $1,799.83.

You can purchase crypto coins here: Buy Coins

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.