Ethereum

<p>The recent <a href="https://www.cryptopolitan.com/news/ethereum-eth/?swcfpc=1">Ethereum price</a> analysis reveals ETH is at a critical juncture, as it has struggled to sustain the $1900 level. As of writing this report, ETH/USD is trading just below the resistance zone at $1890. Ethereum is trading at $1,833, down 1.07% in the last 24 hours, according to data from CoinMarketCap.</p>



<p>The Ethereum network has undergone a number of hard forks recently, with Shapella being the latest one. This potentially signals that institutional investors are confident about ETH&#8217;s long-term prospects despite the current price retreat. Despite the recent price retreats, institutional investors continue to show confidence in Ethereum following the successful implementation of the Shapella hard fork.&nbsp;</p>



<p>While the ETH/BTC pair has seen a pullback trend in April, fractal analysis suggests a possible downside target of 0.0627 BTC by the end of the month. However, weekly institutional flows show Ethereum outperforming Bitcoin, with $17M in inflows versus $53.1M in outflows for the past week.</p>



<h2 id="ethereum-price-analysis-technical-analysis-point-to-a-possible-drop-below-1-800">Ethereum price analysis: Technical analysis point to a possible drop below $1,800</h2>



<p>The daily chart for ETH/USD shows the pair is trading in an ascending triangle pattern. The price has been making lower highs and higher lows since mid-April, which indicates bulls are unable to push the price beyond the resistance level at $1900.&nbsp;</p>



<p>On the technical side, ETH/BTC pair is down 1.07% from the local high and currently trading at 0.06698BTC, based on fractal analysis there is a possibility of ETH dropping below $1800 if it fails to break above the crucial resistance level at $1900. Ethereum price analysis reveals ETH is still in a possible accumulation phase. The weekly chart shows that the bulls have been able to defend the $ 1,700 level multiple times this month while institutional inflows continue to support the coin’s price action.</p>



<figure class="wp-block-image size-full"><img width="865" height="463" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-531.png" alt="image 531" class="wp-image-294561" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-531.png 865w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-531-300x161.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-531-768x411.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-531-24x13.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-531-36x19.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-531-48x26.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-531-150x80.png 150w" sizes="(max-width: 865px) 100vw, 865px" /><figcaption>ETH/USD 24-hour chart. Source: <a href="https://www.tradingview.com/chart/YgGk5lSa/?symbol=COINBASE%3AETHUSD" target="_blank" rel="noopener">TradingView</a></figcaption></figure>



<p>Popular technical indicators are signaling a potential nose dive, with RSI and MACD both trending downwards. The moving average is also showing a bearish crossover below the 0-line, suggesting further downside in the near future. The Stochastic RSI is also likely to cross down from its overbought zone.</p>



<h2 id="ethereum-price-analysis-on-a-4-hour-chart-bulls-unable-to-defend-1900">Ethereum price analysis on a 4-hour chart: Bulls unable to defend $1900</h2>



<p>Looking at the 4-hour chart, Ethereum’s price is trading below the 20-MA and 50-MA lines, indicating a bearish trend in the near term.  The RSI has also dropped down from its overbought zone, signaling that bulls are losing their grip on ETH/USD pair. Moreover, the MACD is trending downwards, which could indicate further downside in the near future. </p>



<figure class="wp-block-image size-full"><img loading="lazy" width="864" height="461" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-530.png" alt="image 530" class="wp-image-294559" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-530.png 864w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-530-300x160.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-530-768x410.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-530-24x13.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-530-36x19.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-530-48x26.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-530-150x80.png 150w" sizes="(max-width: 864px) 100vw, 864px" /><figcaption>ETH/USD 4-hour chart. Source: <a href="https://www.tradingview.com/chart/YgGk5lSa/?symbol=COINBASE%3AETHUSD" target="_blank" rel="noopener">TradingView</a></figcaption></figure>



<p>The Stochastic RSI has also crossed down from its neutral zone and is currently hovering around 30 levels. This suggests that ETH/USD pair may face further downside pressure if it fails to break above the $1900 resistance level.</p>



<h2 id="ethereum-price-analysis-conclusion">Ethereum price analysis conclusion</h2>



<p>Overall, <a href="https://www.cryptopolitan.com/news/ethereum-eth/?swcfpc=1">Ethereum price</a> analysis reveals that ETH is at a critical juncture and needs to break above the $ 1900 level for further upside. Meanwhile, institutional investors continue to show confidence in the token following the successful implementation of the Shapella hard fork. The technical indicators also suggest a potential downside as bears have been able to push back bulls from pushing the prices higher. A break below $1800 could open up the possibility of further downside in the near term.</p>



<p>While waiting for Ethereum to move further, see our Price Predictions on&nbsp;<a href="https://www.cryptopolitan.com/xdc-price-prediction/?swcfpc=1">XDC</a>,&nbsp;<a href="https://www.cryptopolitan.com/cardano-price-prediction/?swcfpc=1">Cardano</a>, and&nbsp;<a href="https://www.cryptopolitan.com/cardano-price-prediction/?swcfpc=1">Curve</a>.</p>

Ethereum Price Analysis: ETH forms lower highs as it struggles to break the $1,900 level

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