Ethereum Technical Analysis: 2 APR 2025
Ethereum is getting knocked by descending trendlines. Source: TradingView
General View
Ethereum has shown a minor recovery in recent sessions, rebounding from key intra-day support levels. However, the recovery is now starting to feel the heat once again as intra-day resistances converge alongside descending trendlines putting the pressure. Bulls need to maintain strength above the current range to avoid further downside risks. Additionally, on the 8-hour timeframe, a potential Evening Star pattern is emerging, signaling a possible bearish reversal if confirmed.
On The Upside
For Ethereum to gain bullish traction, it must break through the descending trendline resistance, which has consistently rejected price attempts. A clean breakout above this zone could open the door toward the flip & rally region near $2,100. Meanwhile, the session resistances are at $1880 and $1950.
On The Downside
Failure to hold the intra-day support zone could see Ethereum slipping back into bearish territory. The immediate risk lies around the $1,800 zone, a crucial support area. If selling pressure intensifies and the Evening Star pattern confirms, Ethereum could test the weekly support region at $1,700–$1,650.
Evening star candlestick pattern appearing on an 8-hour time frame. Source: TradingView
