Ethereum Holds Critical Support Level—Potential Breakout May Spark Significant Upside Movement
As of April 21, 2025, Ethereum’s price action shows resilience at a key support zone. Market analysts suggest that a confirmed breakout above current resistance could initiate a substantial bullish trend. Traders are closely monitoring volume indicators and on-chain metrics for confirmation of accumulation. The ETH/USD pair’s technical structure resembles historical patterns that preceded previous rallies, with the RSI hovering near neutral territory. Institutional interest appears to be growing, as evidenced by increasing CME futures open interest. Should buying pressure intensify, we may witness a test of recent highs followed by potential new ATH formations in the coming weeks.
Ethereum Price Eyes Upside Break
Ethereum price remained stable above the $1,500 level and started a fresh increase, like Bitcoin. ETH traded above the $1,550 and $1,600 levels to enter a short-term positive zone.
There was a break above a connecting bearish trend line with resistance at $1,590 on the hourly chart of ETH/USD. The pair even cleared the $1,620 resistance. A high was formed at $1,644 and the price is stable above the 23.6% Fib retracement level of the upward move from the $1,566 swing low to the $1,644 high.
Ethereum price is now trading above $1,600 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles NEAR the $1,640 level. The next key resistance is near the $1,650 level. The first major resistance is near the $1,680 level.
A clear move above the $1,680 resistance might send the price toward the $1,720 resistance. An upside break above the $1,720 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $1,800 resistance zone or even $1,840 in the near term.
Downside Correction In ETH?
If Ethereum fails to clear the $1,650 resistance, it could start a downside correction. Initial support on the downside is near the $1,620 level. The first major support sits near the $1,605 zone and the 50% Fib retracement level of the upward move from the $1,566 swing low to the $1,644 high.
A clear move below the $1,605 support might push the price toward the $1,580 support. Any more losses might send the price toward the $1,550 support level in the near term. The next key support sits at $1,500.
Technical Indicators
Hourly MACDThe MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSIThe RSI for ETH/USD is now above the 50 zone.
Major Support Level – $1,600
Major Resistance Level – $1,650
