Ethereum (ETH) price has attracted significant attention as the cryptocurrency market showed signs of a potential reversal. Despite the bearish sentiment in recent months, Ethereum’s technical analysis has revealed positive indications.
When writing, many traders and analysts focused on upcoming Ethereum price movements. The growing presence of ETF inflows, particularly from institutional players like BlackRock, combined with technical breakouts, sparked a wave of optimism about Ethereum’s prospects.
Bullish Divergence Signaled Potential Trend Reversal
Ethereum price has recently formed a bullish divergence that indicates the bearish pressure has started to weaken further. It shows that the ETH price has been in a downtrend, hence a lower low has been made.
However, the relative strength index (RSI) has produced a higher low during the same period. Such a trend suggests that bearish pressure is gradually fading. This situation is typical before a reversal of the price movement.
According to technical experts, this could translate to quite a reversal. That’s why there is a possibility of seeing a higher price rebound in the Ethereum price.
Some analysts predict that ETH can increase by almost 120% and actively move towards the value of $2,500. This increase, if sustained, could trigger more increases in the target area of over $4000 over the longer term.
Source: X
Additionally, the Ethereum price action has recently breached a key trendline support level. This trendline break, combined with the bullish divergence, provided further confirmation that a shift in market direction may occur soon.
A clear breakout above the current resistance zones could trigger an influx of buying activity. It could lead to a potential rally in the coming weeks.
ETF Inflows Strengthen Ethereum Price Momentum
Ethereum price performance has also been supported by increasing inflows into Ethereum-based exchange-traded funds (ETFs). Data shows that in just one day, Ethereum ETFs saw a remarkable inflow of 41,940 ETH, worth approximately $76.33 million.
Among the largest contributors, BlackRock added 37,537 ETH. That reflected the growing institutional interest in the top altcoin. The surge in ETF inflows could play a crucial role in stabilizing Ethereum price and facilitating its upward movement.
Institutional investors, like those behind Ethereum ETFs, typically bring a level of stability and confidence to the market. Their large-scale investments help absorb selling pressure and provide support during periods of volatility.
Apr 29 Update:
10 #Bitcoin ETFs
NetFlow: +6,634 $BTC(+$630.22M)🟢#iShares(Blackrock) inflows 10,249 $BTC($973.65M) and currently holds 598,936 $BTC($56.9B).9 #Ethereum ETFs
NetFlow: +41,940 $ETH(+$76.33M)🟢#iShares(Blackrock) inflows 37,537 $ETH($68.32M) and currently holds… pic.twitter.com/3kNWqzag2w— Lookonchain (@lookonchain) April 29, 2025
Ethereum’s ongoing popularity among institutional investors suggested that its price could continue to climb. It would surge if the bullish trendline breakout and ETF inflows persist.
As more institutional capital flows into Ethereum, it could be a sign of growing market confidence. It could further boost Ethereum price.
Key Resistance and Support Zones to Watch
Ethereum price was the middle of a critical trendline support and resistance levels on the daily charts. The $1,500 level appeared to be a support area that has enabled buyers to come in to prevent the price from declining further each time it tested this level.
This level has been crucial in fending off further declines. So, if the price drops below that level, it will be an indication of a continuation of the downtrend.
However, if Ethereum achieves a breakout of the $1,900 resistance level that corresponds to the 50-WMA, higher targets are more attainable.
The move above $1,900 could lead to the next wave of the rally, which might propel Ethereum price to reach $2,500 – $2,800 coefficients.
Source: X
The breakout from the trendline, when accompanied by bullish divergences, usually indicates that the Ethereum price is striving to reach higher price levels.
This resistance area, if breached and provided the price maintains support levels, should be followed by a considerable recovery.
However, at press time, bullish momentum was still in control. ETH price traded at $1799.18, witnessing a 1.5% surge from the intraday low.
During the rally, Ethereum market capitalization and 24-hour trading volume soared by 1.66% and 15.73%, respectively, to $216.59B and $14.16B
