Ethereum (ETH) has shown renewed strength as it started a fresh increase from the $1,735 support zone. The price is now trading above key levels like $1,780 and the 100-hourly Simple Moving Average (SMA), signaling bullish momentum. With a break above a critical bearish trend line on the hourly chart, ETH appears poised for further gains, potentially targeting the $1,840 resistance zone and beyond. Ethereum price prediction suggests that if buyers maintain control, a breakout above $1,840 could pave the way for a rally toward $1,920 or even $2,000 in the near term, making this a pivotal moment for traders and investors alike.
Ethereum’s Recent Price Action
After correcting from the $1,840 resistance zone, Ethereum briefly dipped below $1,800 and $1,780 but managed to hold its ground. A low was formed at $1,733, after which the price initiated a strong recovery. This upward move allowed ETH to surpass the 50% Fibonacci retracement level of the downward move from the $1,842 swing high to the $1,733 low.
Additionally, Ethereum broke above a significant bearish trend line with resistance near $1,800 on the hourly chart. This breakout has reinforced bullish sentiment, with the price now consolidating above both $1,800 and the 100-hourly SMA . These technical indicators suggest that buyers are in control, at least in the short term.
Key Resistance Levels to Watch
On the upside, Ethereum faces immediate hurdles near the $1,815 level and the 76.4% Fibonacci retracement level of the recent downward move. Breaking through these levels could pave the way for a test of the $1,840 resistance zone , which remains a pivotal barrier for further gains.
If Ethereum successfully clears the $1,840 resistance, the next major target is the $1,850 level. A sustained move above this level might propel the price toward the $1,920 resistance zone. Additionally, an upside break above $1,920 could trigger a rally toward the $1,950 resistance zone or even the psychological milestone of $2,000 in the near term.
Potential for a Fresh Decline
Despite the current bullish momentum, Ethereum could face downside risks if it fails to overcome the $1,840 resistance. In such a scenario, initial support lies near the $1,785 level, followed by a stronger support zone at $1,760.
A decisive drop below $1,760 might push the price toward the $1,735 support level, which has acted as a crucial floor in recent sessions. Further losses could extend the decline to the $1,650 support zone, with the next major support sitting at $1,620.
Technical Indicators Supporting the Bullish Case
Several technical indicators are aligning with the bullish outlook for Ethereum. The price holding above the 100-hourly SMA suggests that the market sentiment remains positive. Additionally, the breakout above the bearish trend line signals a potential shift in momentum favoring buyers.
The Fibonacci retracement levels also provide clarity on potential support and resistance zones. As long as Ethereum remains above $1,800 , the path of least resistance appears to be on the upside. However, traders should remain cautious of profit-taking or rejection near key resistance levels like $1,840 and $1,850 .
ETH daily chart on TradingView (May 1st, 2025).
What to Expect in the Coming Sessions
Ethereum’s price action over the next few sessions will likely hinge on its ability to clear the $1,840 resistance zone. A successful breakout could trigger a wave of buying pressure, driving the price toward $1,920 or higher. Conversely, failure to breach this level might result in a pullback, with sellers targeting supports at $1,785, $1,760, and potentially $1,735.
For now, the bias leans slightly bullish, given the recent recovery and the break above key technical levels. However, traders should closely monitor volume and market sentiment, as any signs of weakness could lead to a reversal.
Final Thoughts
Ethereum’s recent recovery from the $1,735 zone has reignited hopes of a bullish continuation. With the price now trading above $1,800 and the 100-hourly SMA, ETH is well-positioned to challenge the $1,840 resistance zone. A decisive break above this level could open the door for further gains, potentially targeting $1,920 or even $2,000.
However, the risk of a fresh decline cannot be ignored, especially if buyers fail to sustain momentum above $1,840. Traders should remain vigilant and watch for key support and resistance levels to guide their decisions.
As Ethereum navigates this critical phase, the coming days will reveal whether bulls can maintain control or if bears will regain the upper hand.
