Once again, the Ethereum price, ever so indecisive, heaves itself upwards from the melancholy depths of the $1,735 abyss. We watch ETH ascend, breath bated, pondering whether it will finally surmount the fabled $1,840 barricade or, in classic fashion, stumble yet again upon its own ambition.
- Ethereum, with the obstinacy of a Russian nobleman refusing to pay his debts, found strength above $1,720, which—surprisingly—was not the end, but the beginning of another arduous climb.
- The price clings to $1,780 and flirts with the 100-hourly Simple Moving Average like a lovesick poet at a countryside ball.
- An old and wearisome bearish trend line, having tormented the villagers for weeks, was at last breached at $1,800 on the hourly ETH/USD chart (supplied with all the solemnity and drama of a Kraken data feed).
- Should the obstinate coin muster enough courage to clear $1,840, it may, perhaps, launch itself anew—one more loop on the eternal Ferris wheel of hope and disillusionment.
Upsides, Like Spring in the Provinces
Ethereum, not unlike its cousin Bitcoin, corrected its little triumphs from the $1,840 region, dipping wistfully below $1,800 and further to $1,780—never one for a straightforward journey. Through the mists of confusion, a low was hatched at $1,733 (I won’t bore you with how gloomy that felt), from which the price rallied, breezily leaping over the hurdles at $1,780 and $1,800.
The 50% Fib retracement—whatever that may mean to the heart—was conquered, spanning the chasm from $1,842’s giddy heights to the $1,733 moors of despair. Only in Ethereum can such melodrama play out every 15 minutes.
The stern, bearish trend line at $1,800 finally gave way, perhaps bored with its own pessimism. Now, Ethereum finds itself poised above $1,800 and the 100-hourly Simple Moving Average—one can practically hear the 19th-century aunts tut-tutting over tea.
Of course, the path to glory is strewn with obstacles; $1,815 and the troublesome 76.4% Fib retracement eye ETH skeptically, as though warning, “not so fast, dear boy.” Chief among the next trials is the $1,840 fortress.
Should our hero breach $1,850, the horizon expands to $1,920, and if fate smiles (though fate is a notorious card cheat), even $1,950 or $2,000 may glimmer in the distance, like the elusive approval of your stoic, moustachioed father.
Another Melancholy Dip, Perhaps?
But what, you ask, if Ethereum falters below $1,840? The descent begins—first, a soft landing near $1,785, then perhaps the more tragic $1,760, and, failing all else, the disconsolate $1,735 laments await. Should things worsen (which, let’s face it, is tradition), $1,650 and finally $1,620—lonely cottages on the unswept steppes of crypto grief—beckon silently.
Technical Indicators—The Oracles Speak
Hourly MACD—rumor has it, this mysterious function is trending bullish. There’s talk in the salons about an RSI, too, which has found itself above 50, whatever solace that provides.
Major Support Level: $1,785 (not that it will notice your feeble affection)
Major Resistance Level: $1,840 (likes long walks on the beach, says “no” just to be difficult)
In sum: Ethereum, forever the enigmatic suitor, teeters between triumph and faceplant, drama and disappointment—a true hero for our Turgenevian times. Will it soar or sulk? Tune in next hour.
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2025-05-01 06:25