Mike Smith
Apr 30
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Ethereum has demonstrated an impressive weekly rally, adding over 10%, but the market structure is increasingly raising questions among analysts. The current technical picture points to a slowdown in growth and a possible change in the short-term trend, despite the recent heights.
The Directional Movement Indicator (DMI), which measures the strength of the trend, is recording a significant weakening of the momentum. The ADX value has dropped to 24.91 - a noticeable decline from the previous level of 39. This indicator indicates that the market has lost its former momentum. Support from buyers is not enough to consolidate in a sustainable upward movement, and the market may enter a stage of high volatility without a clear vector.
A decrease in the positive indicator +DI to 22.71 also indicates a decline in bullish pressure. At the same time, -DI, which is responsible for the strength of bearish pressure, continues to grow and reached 17.68. This ratio is alarming: sellers are increasing their activity, and interest in buying is weakening. If the situation continues, Ethereum risks losing control over important levels and starting a gradual decline.
Despite the uncertainty in the trend, the relative strength index (RSI) is showing signs of stabilization. It is currently at 56, which reflects a moderate preponderance in favor of buyers. This indicator indicates that the dominant scenario has not yet formed: the direction of movement remains open. Reaching values above 60 may open the way to a new round of growth, while a rollback below current values will indicate a fading initiative and, possibly, a retest of the lower boundary of the current range.
The price barrier in the region of $ 1,828 remains a key resistance point. Attempts to overcome it have already been made, but without consolidation. A breakout above the designated level can trigger an upward movement to the $1,954 and $2,104 zones, and if the optimistic scenario develops, to $2,320. However, this requires a clear impulse, supported by volumes and renewed demand. Without these factors, any rise may be short-lived.
On the other hand, a drop below the current levels will activate protective zones at $1,749 and further at $1,689. If the pressure from sellers increases, rollbacks to deeper support at $1,537 and $1,385 are likely. These levels act as possible rebound points in the event of a large-scale correction.
The current market configuration for Ethereum balances between the possibility of an upward breakout and the risk of protracted consolidation. Market participants should closely monitor the price behavior near key levels and prepare for sharp changes - they are quite likely against the background of unstable momentum and fluctuating indicators.
