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Ethereum Price Clings to Support—Upside Break Could Trigger Rally

Ethereum price started a increase from the $1,550 zone. ETH is now rising and might attempt to recover above the $1,650 resistance. Ethereum started a fresh increase above the $1,580 and $1,600 levels. The price is trading above $1,600 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $1,590 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $1,650 resistance zone. 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 MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $1,600 Major Resistance Level – $1,650 CoinOtag

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3 Things That Could Impact Crypto Markets in The Week Ahead

The Easter weekend offered little respite for markets, and no trade deals were announced. Meanwhile, US President Donald Trump published a “non-tariff cheating” list, stating that those who criticize tariffs are “bad at business.” The notable drop in consumer sentiment and a surge in household inflation expectations are indicative of the turbulent economic weather that lies ahead if the situation continues. Federal Reserve Chair Jerome Powell also contributed to the dampening investor sentiment, criticizing Trump’s tariffs, while the POTUS hit back, threatening to fire the central banker. This week’s economic data and consumer sentiment reports could further influence central bank monetary policy if there are big swings. “All signs point to more volatility this week,” said the Kobeissi Letter. Economic Events April 21 to 25 The first major reports of the week are on Wednesday, when the Global Services and Manufacturing PMI data is released. This data provides leading economic indicators used by economists and analysts to gain insights into changing economic conditions. March’s Durable Goods Orders report is due on Thursday, measuring the cost of orders received by manufacturers for durable goods, such as vehicles and electrical appliances. Big ticket items such as these are more susceptible to economic changes and are tied to consumer sentiment. April’s Consumer Sentiment Index and Consumer Inflation Expectations reports are due on Friday. These reports portray the results of a monthly survey of consumer confidence levels and consumer views of long-term inflation. Key Events This Week: 1. S&P Global Services/Manufacturing PMI data – Wednesday 2. March New Home Sales data – Wednesday 3. March Durable Goods Orders data – Thursday 4. March Existing Home Sales data – Thursday 5. Total of 8 Fed Speaker Events 6. ~20% of S&P 500 companies… — The Kobeissi Letter (@KobeissiLetter) April 20, 2025 The US can’t escape “a looming wave of inflation,” and the government looks “ill-prepared to respond,” said Adam Posen, president of the Peterson Institute for International Economics, last week. The Fed has been “too loose” with monetary policy, which is contributing to inflation risk, he opined before adding, “If we get inflation, the Fed will be behind the curve,” implying further rate hikes. Additionally, around 20% of S&P 500 companies, including Tesla and Alphabet (Google), will report earnings this week in what could be a tough quarter for big tech. Crypto Market Outlook Crypto markets have started the week in the green with Bitcoin leading the pack as usual. Total capitalization is around $2.84 trillion as BTC reclaimed $87,000 for the first time since late March. Analysts have said that Bitcoin has broken out of a falling wedge pattern, which could see the reversal of a three-month downtrend. Ethereum , XRP, and Binance Coin registered minor gains, but Bitcoin was leading the markets this Monday in Asia. The post 3 Things That Could Impact Crypto Markets in The Week Ahead appeared first on CryptoPotato . CoinOtag