Ethereum (ETH)

Price: Trading in the 2,290 – 2,340 USD range, up 2.14% over the last 24 hours
1. Current Support and Resistance Levels
The main resistance zone is between 2,746 and 2,800 USD. This area is important because it lines up with the 50% and 61.8% Fibonacci retracement levels and the previous horizontal top.

Psychological resistance sits at 2,400 to 2,450 USD. The 100-day exponential moving average is at 2,348 USD and the 38.2% Fibonacci level is at 2,367 USD. A daily close above this zone puts 2,558 USD and 2,606 USD on the radar.

Intermediate resistance is found at 2,388 to 2,420 USD. This is a horizontal resistance and short-term liquidity area. Staying above 2,420 USD opens the path toward 2,500 USD.

Immediate support is in the 2,244 to 2,293 USD band. The 50-day exponential moving average is at 2,244 USD and the 20-day exponential moving average is at 2,293 USD. Price is currently holding just above both.

Strong support runs from 2,130 to 2,148 USD. The 23.6% Fibonacci level is at 2,130 USD and the upper boundary of the horizontal channel is at 2,148 USD.

Critical support is between 1,747 and 1,909 USD. This is the lower boundary of the channel and a long-term demand zone. A daily close below 2,211 USD would bring this area into focus.

Rule: As long as price stays above 2,290 USD, the structure remains intact. A strong break of the 2,388 to 2,420 USD band targets 2,500 – 2,558 USD. A close below 2,200 USD brings 2,107 and 1,909 USD into view.
2. Structural View Using Fibonacci Levels
Using the February 2026 low of 1,764 USD and the April 2026 high of 2,404 USD:

The 23.6% retracement is at 2,130 USD. This is the first area buyers have defended.
The 38.2% retracement is at 2,367 USD. It overlaps with the 100-day exponential moving average, making it strong resistance.
The 50% retracement is at 2,558 USD. This is an intermediate target and liquidity zone.
The 61.8% retracement is at 2,749 USD. This is the main target and common area for position adjustments.

On the daily chart, Ethereum is holding above 2,290 USD, keeping the 50-day exponential moving average as support. On the weekly chart, the 2,300 USD area is protected by a rising trendline. Closes above 2,400 USD make the 200-day exponential moving average at 2,606 USD the next objective.
3. Market Sentiment: Compression and Indecision
Ethereum participants are currently shaped by three main themes:

First, institutional demand. Spot Ethereum ETFs recorded net inflows for three consecutive weeks, with 192 million USD added last week. BitMine Immersion Technologies purchased 10,000 ETH from the Ethereum Foundation in an OTC deal, bringing its total to 4.98 million ETH. This approaches 5% of total supply.

Second, retail selling pressure. Funding rates for ETH perpetuals turned negative in recent weeks. Short positions are dominant. Still, open interest is declining, which suggests shorts have started to take profits.

Third, supply risk. The Ethereum Foundation began to unstake roughly 48.9 million USD worth of wstETH through Lido. When this ETH becomes liquid, it could create short-term overhead. The market is testing 2,300 – 2,400 USD resistance while this supply is absorbed.

The Relative Strength Index is near 52, showing balanced momentum. MACD is in negative territory but recovering. Stochastic is turning up from oversold levels. This reads as “indecisive recovery”: buyers defend 2,240 USD, sellers hold 2,370 USD.
4. Current News Flow and Catalysts
BitMine reaching 5.08 million ETH confirms that institutional accumulation continues. The company made its largest weekly purchase of 2026, valued at 11.75 billion USD.

Spot ETH ETFs saw 155 million USD in net inflows last week. This has been a key factor preventing price from slipping below 2,200 USD.

The Ethereum Foundation’s unstake may add supply to the market. Because the transaction was OTC, it may not create direct exchange selling pressure.

Ceasefire discussions between the US and Iran are supporting risk appetite. Positive progress could accelerate capital flows into crypto assets.

Following the Pectra upgrade, network usage and staking rates are at record highs. On-chain data shows long-term holders are adding to positions.
5. Technical Indicator Summary – April 29
RSI is at 52. Momentum is neutral, not in overbought or oversold territory.

MACD histogram is negative but moving toward zero. Short-term recovery potential is increasing.

The 20-day exponential moving average is at 2,293 USD and the 50-day exponential moving average is at 2,244 USD. Price above both keeps the short-term view intact.

The 100-day exponential moving average is at 2,370 USD. This is the first major resistance. A daily close above it opens 2,558 USD.

The 200-week exponential moving average is at 2,457 USD. This is critical for long-term trend direction. Holding above it could start the next upward cycle.
6. Scenario Plan
Bullish scenario: A strong break of the 2,388 to 2,420 USD band with volume targets 2,500 USD, then 2,558 USD and 2,606 USD. If the 200-week average at 2,457 USD is cleared, 2,749 USD and 3,000 USD come into view.

Bearish scenario: A daily close below 2,240 USD targets 2,211 USD, 2,107 USD, and 1,909 USD. The last key level before structure breaks is 1,741 USD.

Consolidation scenario: Continued sideways movement between 2,300 and 2,400 USD. Bollinger Bands are tightening and volatility is compressing. The breakout direction will be sharp. A close above 2,400 USD favors buyers, a close below 2,200 USD favors sellers.
7. Key Takeaways
Ethereum remains constructive as long as it holds above 2,290 USD. The 2,400 USD resistance has held for weeks and acts as both a technical and psychological barrier.

Institutional purchases and ETF inflows support price. Unstaked supply from the Foundation limits upside. The market is balancing these two forces.

The SuperTrend indicator gave its first buy signal since May 2025. This may indicate the long consolidation is ending.

Liquidation data shows more than 600 million USD in long positions at risk below 2,200 USD. A break of that level could accelerate the move.

Summary: ETH is in a decision zone between 2,300 and 2,400 USD. Holding above 2,290 USD keeps the target at 2,719 USD in play. A close below 2,200 USD increases the risk of 2,000 USD. Market direction will be defined by a close above 2,420 USD or below 2,200 USD.
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