Ethereum Technical Analysis: 24 APR 2025
Ethereum is in a bullish flag formation. Source: TradingView
General View
Ethereum has shown renewed strength after breaking out of an ascending triangle pattern, a bullish signal that suggests momentum is shifting in favor of the bulls. The price is now consolidating in a bullish flag, aligning for the next bullish leg. Additionally, for the first time in 2025, Ethereum has reclaimed the 12-hour EMA-50, which is a major achievement for the bulls. If this strength continues, Ethereum could be gearing up for a fresh higher time-frame rally.
On The Upside
Once Ethereum breaks out of the current bullish flag structure, price is expected to move higher and test the $1850 level, the first notable intra-day resistance. This is where some intra-day profit-taking remains likely, which can put pressure on the price, however, if bulls remain resilient, they can extend the upside gains towards $1930 to $1955 levels..
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On The Downside
In case of a rejection from breakout levels, it would push Ethereum into an extended bullish flag consolidation, which will likely soften the bullish perspective. However, for the session, bulls are likely to get support from the $1750 and $1725 levels initially, followed by the $1705 to $1695 levels.
Bulls have finally broken past the EMA-50 hurdle. Source: TradingView
