Ethereum Technical Analysis Report 29th April 2025
Ether (ETH) has seen no shortage of volatility in its journey. After soaring past $4,000 in late 2021, it plummeted to just $880 during the 2022 crypto winter, only to rebound above $3,000 following the approval of spot Ether ETFs by U.S. regulators in mid-2024. As of now, ETH trades near $1,580down 40% year-to-date, yet still up roughly 70% compared to the same time last year. The combination of ETF infrastructure and MiCA regulatory clarity is opening doors for institutional adoption, allowing wealth managers to consider ETH allocations of 12% in diversified portfolios. Remarkably, even a 1% portfolio shift from OECD pension funds could drive an estimated $150 billion in new demandequivalent to around 80% of ETHs current free-floating supply.
At the time of writing, ETH was trading at $1,799.
ETH was trading in a Descending Channel pattern and plunged almost 65% from $4,108 to $1,385. The bulls, however, defended the key support level of $1,350, and the price bounced almost 32%, making the recent high of $1,857. Post this move, the asset is consolidating and is trading in a narrow range from $1,750 to $1,840 with declining volumes. Once it gives a breakout above $1,850 with good volumes, we may expect it to further rally up to $2,150.
Key Levels
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $1,500 | $1,750 | ETH | $1,850 | $2,150 |
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