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    Home » Ethereum Faces Pullback After $1,690 Peak, Eyes Key Support
    Ethereum price analysis
    Ethereum News

    Ethereum Faces Pullback After $1,690 Peak, Eyes Key Support

    Ali MalikBy Ali MalikApril 16, 2025No Comments3 Mins Read

    Ethereum Faces Pullback. After recently establishing a strong basis above $1,550, Ethereum (ETH) seems poised for a clear climb. Following the positive momentum of Bitcoin, ETH broke past important resistance levels at $1,600 and $1,620, rising to a new high of almost $1,690.

    Quick Highlights:

    • Resistance Broken: ETH surged past $1,600 and $1,620

    • Local Peak: Reached ~$1,690 before correcting

    • Current Price: $1,577 as of April 16, 2025

    • Short-Term Trend: Bearish momentum emerging

    Pullback Begins After Peak at $1,690

    Intense selling pressure ETH faced following the spike set off a correction. Hinting at declining purchasing vigor, the price dropped below the $1,600 support and broke through a bullish trendline at $1,525.

    • The price retraced to the 50% Fibonacci level, measuring the move from $1,472 to $1,690

    • ETH is now below $1,625 and the 100-hour SMA, signaling a shift in short-term sentiment.

    Analyst Insights Triangle Breakout Shows Long-Term Potential

    Market researcher Ali Martenez claims that Ethereum has lately come out of an ascending triangle pattern, a traditional bullish indication. Important facts include:

    • Higher lows continue forming, applying upward pressure

    • Breakout strength depends on sustained trading volume

    • The pattern indicates buyer demand remains strong

    “Ethereum’s bullish structure remains intact, but short-term weakness could challenge the upside potential,” said Marteniz.

    Key Resistance & Support Levels to Watch

    Ethereum falls below important technical marks as it hangs close to $1,577. Traders should keep an eye on these:

    Immediate Resistance:

    • $1,590 – Psychological and technical hurdle

    • $1,640–$1,650 – Next breakout zone

    • $1,690 – Previous high and potential upside target

    Critical Support:

    • $1,550 – Key short-term floor

    • $1,472 – Recent swing low

    • $1,000 – Multi-year range support; a break below could trigger more considerable downside

    🛑 According to @brarno882 on X, failure to hold the mid-range level could push ETH below $1,000 — a zone not seen since early 2023.

    Market Outlook: Consolidation or Breakdown?

    Reaching a multi-year negative range, Ethereum price analysis is currently trading close to its middle point. The lack of significant positive signals raises questions about whether Ethereum’s price analysis can maintain its present levels or if another drop is likely.

    What to watch next:

    • Volume levels near $1,590

    • Bounce potential at $1,550

    • Market-wide sentiment from BTC and macro trends

    Stay Ahead in the Crypto Market

    Knowledge is vital whether you are holding for the long run or trading in the short term. Subscribe to our newsletter to have daily Ethereum price research, on-chain insights, and professional predictions sent to your email.

    Ethereum Price Analysis
    Ali Malik
    • Website

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