- ETH’s RSI and MACD show upward momentum; a crossover may confirm short-term bullish reversal if volume supports it.
- Price targets $1,675–$1,700 if resistance at $1,650 breaks; failure could pull ETH back to $1,540 or $1,500 levels.
- Exchange netflows suggest modest accumulation; strong outflows may support a move toward $1,750–$1,800.
Ethereum’s price outlook shows signs of a possible short term reversal, backed by strengthening technical indicators and shifting exchange flows. Since late 2024, the asset has had persistent downward momentum.
Lower highs and lower lows have defined its pattern. However, price moves in April suggests potential stabilization. Today’s green candle adds weight to the short term bounce. According to analyst Ali, buying Ethereum below the MVRV lower pricing band has historically brought strong returns. That level now is near $1,367.
RSI and MACD Point to Improving Momentum
The RSI is from 39.84 to 44.02. Although it remains below the neutral 50 level, its upward slope implies increasing buyer interest. This shift suggests growing momentum but not yet enough to confirm bullish conditions. The MACD line has risen to -80.51 while the signal line remains lower at -99.75.
The histogram has turned positive at 19.23. If the MACD line crosses the signal line, it may confirm bullish momentum is building. However, such a move would need confirmation through price behavior and volume support.
Price Trends and Key Resistance Levels
Ethereum’s price has been in decline since late 2024, dropping from the $3,000 range to around $1,900–$2,000 in April. The downtrend has persisted despite large net outflows, which usually indicate accumulation.
Notably, recent rebounds in mid-January and early April followed outflows exceeding $200 million. This shows how spot supply reduction can reduce immediate sell pressure. Current resistance is near $1,635 to $1,650.
If ETH pushes past that zone, short term targets include $1,675 to $1,700. A close above $1,700 could open potential for a medium-term move toward $1,800. On the downside, failure to break resistance could cause a return to $1,540 or even $1,500.
Exchange Netflows and Volume Behavior
Volume data shows consistent green bars, which indicates ongoing but modest accumulation. However, exchange netflows from late March to April 21 have slowed. Occasional green spikes suggest short-term uncertainty or profit-taking. If net outflows resume and exceed -$150 million, it may support a move toward $1,750–$1,800.
On the other hand, if net inflows rise above $100 million, ETH may revisit support levels between $1,500 and $1,540. With volume stable and indicators improving, Ethereum’s range for April 23 is expected between $1,540 and $1,800. Direction will depend on flow data and market wide sentiment.
