ETH Ethereum (ETH/USDT) Technical Analysis (April 29, 2025)
🔵 Trend Analysis:
Overall trend remains bearish on the daily timeframe.
ETH is trading below the Ichimoku Cloud, indicating continued downward pressure.
The price is struggling around $1,790, facing strong resistance and unable to break into bullish territory.
🌫️ Ichimoku Cloud Insight:
Kumo (Cloud) is thick and bearish ahead, suggesting strong resistance at higher levels.
Conversion Line (Tenkan-sen) and Base Line (Kijun-sen) are flat, showing a range-bound market recently.
The Lagging Span (Chikou Span) is below the price and the cloud, confirming bearish sentiment.
📏 Fibonacci Retracement Levels:
ETH is retracing after a heavy downtrend.
Key Fibonacci levels:
0.236 at ~$1,721 — already surpassed.
0.382 at ~$1,927 — acting as a next resistance.
0.5 at ~$2,093 and 0.618 at ~$2,260 — higher resistance zones.
Immediate local resistance sits near the $1,927 - $1,930 region.
🔥 Support and Resistance:
Strong range support near $1,700 is marked (labeled "Eth range support 1700" on the chart).
Resistance above at:
~$1,809 (local highs and the edge of Ichimoku Cloud).
~$1,927 (Fibonacci 0.382).
If ETH breaks below $1,700, the next major support is at $1,621 and even deeper at $1,387.
⚡ Momentum (RSI Indicator):
RSI 14 is at 54.37, slightly above neutral (50), suggesting mild bullish momentum.
RSI above 50 usually indicates buyers are gaining slight control.
RSI has risen recently, but without strong divergence from the price action, meaning strength is moderate, not explosive.
📊 Volatility:
Volatility has compressed recently (visible from smaller candlestick sizes).
Price action remains in a tight range between $1,750 and $1,810.
A breakout from this range could trigger larger moves.
