Ethereum price (ETHUSD) tests the support base – Forecast today - 25-04-2024

Ethereum (ETHUSD) Price Analysis

• Ethereum price (ETHUSD) faces negative pressure to test the key support 3132.80$ and attempts to break it, to hint potential return to the correctional bearish track, but we notice that the technical indicators attempt to protect the price from suffering more losses, to face contradiction between the technical indicators that makes us prefer to stay aside until the price confirms its situation according to the mentioned level and detect its next destination clearly.

Expected Scenarios

• Note that consolidating above the mentioned support will lead the price to resume the bullish wave that its next target located at 3360.31$, while breaking it will push the price to achieve addition bearish correction that its next target reaches 2905.30$.

Trading Range

• The expected trading range for today is between 3030.00$ support and 3250.00$ resistance.

Trend forecast: Neutral