- Ethereum trades at $1,775 with bullish RSI at 53.99 and MACD crossover, hinting at potential upside if $1,800 resistance breaks.
- Whale accumulation signals growing interest as ETH whales buy after months of inactivity, despite slight market uncertainty.
- Ethereum shows higher lows, low BTC correlation at 0.35, and strong long term holder confidence amid rising large transaction volume.
On April 25, at press time, Ethereum (ETH) was trading at $1,775.12 after recovering from a sharp drop below $1,600 earlier this month. The bounce comes as the broader market shows slight bullish movement. Ethereum has gained by 0.68% in the past 24 hours.
As per IntoTheBlock, 55% of holders remain at a loss, while 41% are in profit. Despite the ongoing uncertainty, Ethereum has managed to reclaim a critical level above $1,750, suggesting growing trader interest. However, its next move depends on volume and broader sentiment in the coming days.
Key Indicators Show Mild Bullish Momentum
ETH’s short term indicators lean bullish, suggesting potential upside if momentum continues. The RSI is at 53.99, slightly above the neutral 50 mark. This level indicates mild upward pressure but remains well below the overbought level of 70.
Meanwhile, the MACD at 12,26 has hadd a bullish crossover, as the MACD line at 40.45 moved above the signal line at -27.98. Additionally, the histogram turned green and is gradually expanding, often linked with upcoming price increases.
Volume is moderate, recorded at 161.64K. This shows interest is returning, but a stronger breakout still needs heavier buying activity. Immediate support is at $1,738, while resistance is forming between $1,800 and $1,820. If price breaches this range, it may lead to more upside.
On-Chain Activity and Whale Movements
Large investors have returned to action after staying on the sidelines. According to Lookonchain, a whale deposited 2.28 million USDC to Binance and purchased 1,291 ETH at $1,768. This investor had been inactive for three months.
Eight months ago, the same whale sold 900 ETH for $2.28 million at $2,531. Meanwhile, another whale faced a different outcome. As reported by EmberCN, this trader shorted 8,000 ETH at $1,752.5 two days ago, totaling $14.02 million.
Within 20 minutes, the whale repurchased all 8,000 ETH at $1,778.5, closing the position with a $208,000 loss. These movements suggest whales are repositioning ahead of expected volatility.
ETH Price and Resistance
Ethereum’s trend has shifted after reversing a two month downtrend. The price now prints higher lows and trades above key levels.
With 75% of ETH holders holding for over a year, long term confidence remains strong. The price correlation with Bitcoin is at 0.35, showing weak dependence on BTC’s movements. With large transaction volume at $30.34 billion in seven days, investor activity has increased.
However, netflows remain negative at -$124.31 million, suggesting more ETH is leaving exchanges than entering. If resistance at $1,800 holds, ETH may retest support at $1,730–$1,700. Otherwise, a break above could push it toward $1,840–$1,870 by April 26.
