- Ethereum struggles below $1,850 as bearish momentum limits price recovery.
- Rising trading volume signals potential volatility despite Ethereum’s weak trend.
- RSI nearing oversold levels hints at possible rebound if buying pressure strengthens.
Donald Trump’s cryptocurrency holdings have gained attention, with 92% of his portfolio based on the Ethereum blockchain. This revelation has fueled discussions about Ethereum’s market value and its potential for future growth.
Following the announcement, Ethereum experienced a significant price surge, but the momentum did not hold. Instead, the cryptocurrency witnessed a sharp decline, raising concerns about its near-term trend.
JUST IN: TRUMP'S CRYPTO PORTFOLIO IS FOR 92% BASED ON THE ETHEREUM BLOCKCHAIN.
— Mario Nawfal’s Roundtable (@RoundtableSpace) April 3, 2025
Source: @rovercrc pic.twitter.com/iMGw0vIGaa
Ethereum Faces Bearish Pressure Despite Initial Surge
Ethereum started the trading session around $1,872 and briefly peaked above $1,925 before facing strong resistance. The rejection at this level led to a steep decline, with the price eventually stabilizing near $1,800. At the time of writing, Ethereum is trading at $1,797.79, reflecting a 3.99% drop over the past 24 hours.
Significantly, resistance levels have formed at key price points. The $1,925 level marks a crucial resistance, as the price quickly reversed after touching this point. Additionally, $1,872, which previously acted as support, has now turned into resistance. Another minor resistance level exists at $1,850, which emerged from short-term consolidation. Unless Ethereum reclaims these levels, the short-term outlook remains bearish.
On the downside, Ethereum has found temporary support in the $1,780–$1,790 range. If this zone fails to hold, the next critical support lies at $1,750, a psychological level that previously influenced market movements. Further declines could bring Ethereum toward the $1,700 level, a historically strong support zone based on previous price action.
Key Technical Indicators Signal Market Weakness
Market activity has increased significantly, with trading volume surging by 71.49%. Typically, heightened volume precedes major price swings, suggesting that volatility may persist. The breakdown from the $1,872 level indicates growing bearish pressure, making it essential for Ethereum to regain momentum above $1,850 to shift sentiment.
The Relative Strength Index (RSI) currently stands at 36.79, indicating that Ethereum is approaching oversold territory. While it has not yet reached extreme levels below 30, the RSI is trending downward, reinforcing bearish momentum. A slight bullish divergence may be forming, as RSI appears to flatten while the price continues to decline. This could signal a potential reversal if buying pressure strengthens.
Meanwhile, the MACD (Moving Average Convergence Divergence) remains in negative territory. The MACD line sits at -99.3, while the signal line is at -101.4. Despite the histogram showing a slight positive reading of +2.2, both indicators suggest that downward pressure persists. Until the MACD and signal lines move upward, Ethereum’s bearish trend is likely to continue.
