Ethereum is showing signs of life again after a choppy few weeks. Following a strong bounce from the $1,550 zone, ETH is now hovering above the $1,600 level, signaling a potential trend reversal. Traders and analysts are watching closely as the ETH price rises with critical resistance at $1,650. If ETH breaks above that zone, it could trigger a short-term rally. With Bitcoin gaining ground and broader market sentiment slowly improving, Ethereum’s next move could be a big one.
Ethereum Attempts a Comeback as Key Resistance Nears
Ethereum (ETH), which earlier this week fell to about $1,550, has made a strong recovery. Driven by new bullish momentum and renewed hope in the altcoin market, the second-largest cryptocurrency by market capitalization easily soared beyond $1,580 and $1,600. The hourly ETH/USD chart shows that the coin cleared the path for additional highs by breaking above a negative trend line at about $1,590.
Chart 1: ETH/USD chart, provided by Aayush Jindal, published on TradingView, April 21, 2025.
ETH is currently maintaining gains above the 23.6% Fib retracement level of the most recent $1,566–$1,644 move and is trading comfortably above its 100-hour Simple Moving Average. Although these technical indicators point to strength, a significant obstacle still stands at $1,650. This resistance level, which has limited ETH’s advances in recent sessions, is still crucial for figuring out the short-term trajectory.
Will Ethereum Break Out or Pull Back? Bulls vs Bears in Action
If ETH price can convincingly push past $1,650, the next resistance zones are lined up at $1,680 and $1,720. A break above those could open the floodgates toward $1,800 and even $1,840 in the coming sessions. Market momentum and Bitcoin’s strength could help Ethereum sustain such a move if macro conditions remain steady.
However, the flip side remains in play. If the ETH price fails to clear $1,650, it could retrace lower. Immediate support lies near $1,620, followed by $1,605 – coinciding with the latest rally’s 50% Fib retracement level. A dip below these zones might see Ethereum retest $1,580 or even $1,550 again.
With the hourly MACD gaining strength in the bullish zone and the RSI holding above 50, ETH looks well-positioned for another push. Still, traders remain cautious, closely monitoring the broader crypto market for cues.
What is Next for ETH? Key Levels to Watch
Looking ahead, what is next for ETH mostly rests on its capacity to hold back against the $1,650 resistance and continue to rise. The ETH price may aim for the $1,800 range following a good breakout, particularly if investor confidence and network activity improve. On the other hand, Ethereum might be subject to fresh selling pressure and bearish sentiment if it were to lose the $1,600 support. As the crypto market waits for a clear move, time is of the essence, but for now, the bulls still have a chance.
Ethereum Price at a Crossroads
Ethereum is at a pivotal point in time. Bulls have hope because of their recent rally. However, if there isn’t a breakout over $1,650, that optimism might not last long. The course of ETH’s short-term trend will most likely be decided during the next several days. Whether it takes off or stops doesn’t matter. A potential breakout or breakdown should be anticipated by traders. They must keep a close eye on support and resistance levels and be ready for volatility.
Source: Coinfomania / Digpu NewsTex