Ethereum’s price has experienced a slight rebound from a downward trend, currently standing at $1,625.79.
Technical analysis suggests Ethereum is nearing oversold conditions, potentially leading to a reversal.
During Asian trading hours, Ethereum opened the market with a price value of $1,576.53. At the timeframe, Ethereum has been recording a downward trend before experiencing a slight increase, as the price now sits at $1,625.79.
Ethereum, the second largest digital asset by market capitalization has broken out of its dip that has stayed for months. The altcoin has been following a downward trend within a defined channel, making lower lows and lower highs.
A deeper view indicates that this trend persisted for several months, but recent market movements indicate a possible reversal. The breakout occurred as ETH moved above the established trendline, suggesting the end of the downtrend.
Source:
TradingView (ETH/USD Daily Chart)
The attention from this breakout has addressed whether this means a short term trend reversal or pause in downward. To keep ETH’s price action positive, it will have to remain above support and is likely to reject the down trend.
ETH Technical Indicators Movement Revealed: Will the Bulls Take Over?
MACD presents itself with a negative value of -100.65, which implies the present line of regression is going negative. When the MACD value is negative it only means that the bears have the key role in the market so chances are that the downside may not end. However, we need to see the bullish crossover reoccurring for us to use it as a signal to turn bullish. The histogram is smaller though, showing that the downward trend is declining too.
On the other hand, the RSI, currently at 39.60, is approaching oversold territory, typically a signal that the asset may be undervalued and could potentially see a rebound if buying pressure increases. The RSI’s value is close to 30, often seen as a buy signal.
Despite the downtrend hint by MACD, RSI index claims a probable reversal as oversold condition nears. If the price continues to hold above the current level, an upward breakout might take place.
Open Interest and Current Price Movement
According to Coinglass data, open interest, the metric that checks on a digital asset’s futures, has recorded a uniform uptick. According to the market movement, there is a noticeable surge in open interest around April 2025, reaching $18.26 billion as of press.
Source:
Coinglass (Ethereum Open Interest)
A look at Ethereum price on CoinMarketCap indicates that the price value in the market is $1,625.79 reporting a dip of 1% in 24 hours. Additionally, the trading volume at the same period read at $15.35 billion noting a 30.76% uptick.
Source:
CoinMarketCap
Ethereum’s market cap stood at $194.74 billion, with a circulating supply of 120.71 million ETH. The data illustrates price fluctuations within a short period and an increase in trading volume, indicating significant market activity for Ethereum.
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