Ethereum Holds $1,800 Support, Eyes $2,028 Breakout With $2,426 in Sight
- Ethereum holds firm above $1,800 despite bearish on-chain metrics, showing resilience against broader altcoin pressure.
- Momentum indicators like RSI and MACD suggest a potential breakout if ETH clears the $2,028 resistance.
Ethereum’s (ETH) price has traded within a tight consolidation range between $1,756 and $1,833 since April 23, hinting at market indecision. Despite this, ETH’s ability to hold above $1,800 — even after facing strong rejection at the psychological $2,000 level — signals underlying bullish intent.
Though on-chain fundamentals have weakened, with Daily Active Addresses (DAA) divergence plunging to -51%, according to Santiment, price structure remains intact. This negative DAA signals reduced user engagement, often a bearish trigger. Yet price resilience amid this data divergence suggests smart money accumulation may be in play.
The Global In/Out of the Money (GIOM) chart from IntoTheBlock reveals a heavy resistance cluster between $2,061 and $2,513 with over 69 million ETH held by nearly 13 million addresses.
These holders could present intense selling pressure at a loss as the price approaches this zone. However, multiple retests of resistance zones without breakdowns often precede breakouts in crypto cycles.
Technical Indicators Hint at Reversal Momentum
Ethereum’s technical outlook shows signs of bottoming out, even as short-term momentum remains mixed. The daily chart’s Relative Strength Index (RSI) hovers around 54 which is still at the neutral line. While not screaming “oversold,” this level often precedes trend reversals in sideways markets.
Meanwhile, MACD (Moving Average Convergence Divergence) is tightening. The MACD line is nearing a crossover with its signal line — a classic bullish momentum shift signal. This comes just as the price begins to test its 50-day Moving Average (MA), a key breakout trigger historically.
Another critical gauge, the Chaikin Money Flow (CMF), recently dropped from 0.16 to 0.04, highlighting fading buying pressure. However, the flattening curve may indicate consolidation rather than a full-scale exit. Returning to the 0.1 zone would confirm capital inflows and strengthen bullish cases.
Significantly, Ethereum has not breached the ascending trendline that began forming after the April low at $1,453. This bullish structure remains intact, even as fundamentals temporarily lag behind price.
Macro Trends Could Fuel Ethereum Comeback
Beyond technicals, Ethereum’s underperformance in 2025—down 47% YTD—reflects deeper macro struggles. The shift toward Layer-2 solutions post-Dencun and reduced burn rates have made ETH issuance inflationary, with over 730,000 ETH added to the supply since April 2024.
In contrast, Solana (SOL) and Bitcoin (BTC) have surged due to meme coin mania and institutional ETF inflows. However, ETH has stumbled. However, recent moves—including leadership restructuring at the Ethereum Foundation and the upcoming Pectra upgrade—may restore faith in Ethereum’s core roadmap.
If the Ethereum team can restore deflationary mechanics and reframe the Layer-2-centric roadmap, the market may begin to reprice ETH’s long-term value.
Notably, the ETH/BTC ratio is at all-time lows, making ETH relatively undervalued against Bitcoin—a setup that historically precedes sharp reversals.
However, If Ethereum can reclaim $2,028, it would likely confirm a bullish breakout above the local resistance. From there, the next technical target lies at $2,426, marked by the 0.382 Fibonacci retracement level. Sustained buying pressure could push ETH toward the $2,517 supply wall in the coming weeks.
Highlighted Crypto News for Today
Tether Plans New U.S. Stablecoin Launch Amid Washington Outreach
Read More
$380M ETH Exchange Outflows Suggest Supply Squeeze as Bulls Rebuild
Ethereum Network Slows, and So Does Its Price: What’s Next for ETH?
Ethereum Holds $1,800 Support, Eyes $2,028 Breakout With $2,426 in Sight
- Ethereum holds firm above $1,800 despite bearish on-chain metrics, showing resilience against broader altcoin pressure.
- Momentum indicators like RSI and MACD suggest a potential breakout if ETH clears the $2,028 resistance.
Ethereum’s (ETH) price has traded within a tight consolidation range between $1,756 and $1,833 since April 23, hinting at market indecision. Despite this, ETH’s ability to hold above $1,800 — even after facing strong rejection at the psychological $2,000 level — signals underlying bullish intent.
Though on-chain fundamentals have weakened, with Daily Active Addresses (DAA) divergence plunging to -51%, according to Santiment, price structure remains intact. This negative DAA signals reduced user engagement, often a bearish trigger. Yet price resilience amid this data divergence suggests smart money accumulation may be in play.
The Global In/Out of the Money (GIOM) chart from IntoTheBlock reveals a heavy resistance cluster between $2,061 and $2,513 with over 69 million ETH held by nearly 13 million addresses.
These holders could present intense selling pressure at a loss as the price approaches this zone. However, multiple retests of resistance zones without breakdowns often precede breakouts in crypto cycles.
Technical Indicators Hint at Reversal Momentum
Ethereum’s technical outlook shows signs of bottoming out, even as short-term momentum remains mixed. The daily chart’s Relative Strength Index (RSI) hovers around 54 which is still at the neutral line. While not screaming “oversold,” this level often precedes trend reversals in sideways markets.
Meanwhile, MACD (Moving Average Convergence Divergence) is tightening. The MACD line is nearing a crossover with its signal line — a classic bullish momentum shift signal. This comes just as the price begins to test its 50-day Moving Average (MA), a key breakout trigger historically.
Another critical gauge, the Chaikin Money Flow (CMF), recently dropped from 0.16 to 0.04, highlighting fading buying pressure. However, the flattening curve may indicate consolidation rather than a full-scale exit. Returning to the 0.1 zone would confirm capital inflows and strengthen bullish cases.
Significantly, Ethereum has not breached the ascending trendline that began forming after the April low at $1,453. This bullish structure remains intact, even as fundamentals temporarily lag behind price.
Macro Trends Could Fuel Ethereum Comeback
Beyond technicals, Ethereum’s underperformance in 2025—down 47% YTD—reflects deeper macro struggles. The shift toward Layer-2 solutions post-Dencun and reduced burn rates have made ETH issuance inflationary, with over 730,000 ETH added to the supply since April 2024.
In contrast, Solana (SOL) and Bitcoin (BTC) have surged due to meme coin mania and institutional ETF inflows. However, ETH has stumbled. However, recent moves—including leadership restructuring at the Ethereum Foundation and the upcoming Pectra upgrade—may restore faith in Ethereum’s core roadmap.
If the Ethereum team can restore deflationary mechanics and reframe the Layer-2-centric roadmap, the market may begin to reprice ETH’s long-term value.
Notably, the ETH/BTC ratio is at all-time lows, making ETH relatively undervalued against Bitcoin—a setup that historically precedes sharp reversals.
However, If Ethereum can reclaim $2,028, it would likely confirm a bullish breakout above the local resistance. From there, the next technical target lies at $2,426, marked by the 0.382 Fibonacci retracement level. Sustained buying pressure could push ETH toward the $2,517 supply wall in the coming weeks.
Highlighted Crypto News for Today
Tether Plans New U.S. Stablecoin Launch Amid Washington Outreach
Read More
$380M ETH Exchange Outflows Suggest Supply Squeeze as Bulls Rebuild