- The crypto token ETH has gained 1.3% in the previous 24 hours and its price currently stands at $1,821.31 with a total worth amounting to $219.41B.
- The support level for Ethereum stands at $1,768.68 but the resistance level exists at $1,832.02. Ethereum seeks to break through resistance at $1,832.02 which would create conditions for a more extensive price increase.
- According to expert Crypto Patel Ethereum might decline below $1,000 that could result in a price examination of $700 before it eventually surpasses $7,000.
Ethereum has recently tested key support at $1,821.31, showing resilience and potential for a rebound as it navigates through market fluctuations. A significant investor acquired 4,100 ETH worth $7.32 million and transferred those funds from an exchange platform into a private wallet which typically indicates holding assets for the long term.
The analyst community sees Ethereum’s position in DeFi expanding because network developments run parallel to stabilization indicators in the market. The present proof-of-stake consensus implementation for Ethereum has likely boosted investor sentiment after it created decreased issuance and enhanced stalking behaviors on the network.
Ethereum Shows Positive Momentum
The current price of Ethereum stands at $ 1,816.24 while the total volume of trades during the day reached $ 26.59B. Its market capitalization stands at $ 219.41B and maintains a market dominance of 8.11%. The ETH price has shown rising momentum by increasing 1.42% in the last 24 hours trading session.
Ethereum price forecasting relies significantly on support and resistance levels in creating future price predictions. Support stands at $1,768.68 which showed a price reversal during earlier hours of today thus becoming a potential rebound point in case ETH returns to previous levels. A price point of $1,832.02 serves as resistance for Ethereum but breaking through it would initiate an extended price increase.
Analyst Predicts Potential Dip Below $1,000 Before $7,000+ Rally
According to analyst Crypto Patel, as Ethereum navigates key support and resistance levels, the big question remains: Will $ETH dip below $1,000 before soaring to $7,000+?.The key argument is that Ethereum historically respects the 0.5 Fibonacci retracement level, which in the last bull cycle saw ETH drop to around $89 before exploding to its ATH of $4,867 — a staggering gain of 56,000% over approximately 1.5 years.
In the current cycle, the 0.5 Fib level sits around $661, and with a recent breakdown of a significant monthly trendline, there’s speculation that ETH could dip below $1,000 and potentially test the $700 region before rallying to new all-time highs (ATHs). This would align with the behavior observed in past cycles, where such corrections were followed by explosive bull runs.
Ethereum price prediction for April Forecast
Over the next five days, Ethereum will reach the highest price of $ 2,206.70 on Apr 06, 2025, which would represent 18.72% growth compared to the current price. This follows a -3.31% price change over the last 7 days. According to Coicodex analysis, the price of Ethereum is predicted to rise by 44.62% and reach $ 2,722.76 by April 28, 2025.
