2025 ETH Technical Analysis: Will ETH Reclaim the $3,000 Mark Amid Waning Momentum?
The price of Ethereum (ETH) is down 11.83% over the previous 30 days, but it has increased by more than 2.09% in the last day. A crucial psychological and technical area that may affect its future move is the $3,000 mark, which ETH has been attempting to maintain above in recent days.
Ethereum RSI Drops to 54.8: Is the Bullish Trend Losing Steam?
Although ETH lately displayed indications of bullish momentum, indicators like the Directional Movement Index (DMI) and Relative Strength Index (RSI) imply that this strength seems to be waning. The ability of ETH to maintain key support levels and get past adjacent resistance zones will determine if it can resume its upward trajectory or experience additional corrections.
After reaching a low of 22.2 three days ago and a high of 68.9 just one day ago, the ETH Relative Strength Index (RSI) is now at 54.8. As ETH went from oversold to levels that were getting close to overbought territory before leveling out closer to neutral, this action suggests a swift change in momentum. Given that sellers have gained ground following the recent strong surge, the RSI’s drop from 68.9 to 54.8 indicates a cooling off of bullish momentum. Furthermore, the ADX is now at 21.9, down from 39 three days ago, according to the Ethereum DMI chart, indicating a major fall in trend strength.
ETH Targets $3,545 Resistance: Will Momentum Push It to $4,106?
With short-term moving averages attempting to cross above long-term ones, a typical bullish indication, the price of Ethereum is currently trying to create a robust rise. On the other hand, indicators like the RSI and ADX imply that the bullish momentum might be waning.
ETH may challenge its first support level of around $3,158 if the trend turns around. If this is broken, the price of ETH may drop even lower to $3,014. If this level doesn’t hold either, ETH may drop as low as $2,723, which would be an 18.4% correction. On the other hand, ETH might challenge the barrier at $3,545 if the uptrend picks up steam. If this barrier is broken, it might lead to a rise to $3,745, and if the momentum is strong, the price of Ethereum could reach $4,106.
For more up-to-date crypto news, you can follow Crypto Data Space.
Leave a comment