Ethereum Price Reclaims $1,817 on May 1 Amid Building Bullish Momentum

Over the past 24 hours, Ethereum has experienced dynamic fluctuations between $1,737 and $1,817. Currently, technical indicators like RSI are nearing the Overbought zone, hinting at a possible pullback. The overall market movement from the previous day’s close is showcasing a gradual recovery. Analysts suggest that this uptick might enter a bullish momentum if it breaks the key zone. Hence, market participants should watch the key zones and RSI indicators closely to find the trend shift. Here’s the detailed Ethereum trend analysis of the last 24 hours of price action, which helps traders find ETH’s current market momentum. 

Ethereum dipped to $1,737 – April 30, 2025

On 30th April 2025, the Ethereum price movement experienced a notable action. At the beginning of the trading day, ETH started with a brief rise. At 00:35 UTC, a pin bar formed a signal bar, followed by a key bar, and a full-body red candle signaled a potential downtrend. Likely, at $1,809, the price movement resisted and experienced a short-term bearish trend. A Death Cross on moving crossovers at 01:05 UTC confirmed this downfall. However, at 01:45 UTC, the price then found support at $1,790 and moved in an upward channel. 

ETH/USDT daily chart, analyzed by Buvaneswari_L, published on TradingView, May 1, 2025

Later, at 04:55 UTC, a pin bar formed, ETH tested resistance at $1,812, and began to encounter a short-term fall. At 07:50 UTC, support was found at $1,792, moved in an ascending channel, and peaked at $1,816. A Golden Cross on the MACD asserted this upward momentum. Conversely, at noon, a pin bar acted as a signal bar, followed by a full-body red candle, and began to experience a sharp fall. A Death Cross on MACD emerged at 12:10 UTC and affirmed this downtrend. Shortly after, the price led to a breakdown at 12:35 UTC, pushing ETH to a low of $1,737.

Subsequently, at 13:50 UTC, an RSI Oversold zone occurred, hinting at a potential trend reversal. Likely, at 13:55 UTC, the price then found support at $1,737 and experienced an uptrend. A Golden Cross on MACD at 14:15 UTC confirmed this bullish momentum. Later, at 20:05 UTC, an RSI Overbought condition occurred, signaling a trend reversal. As expected, at 20:20 UTC, ETH price movement resisted at $1,807, began to fall, and closed at $1,792.64. A Death Cross on MACD at 20:50 UTC endorsed this ensuing downfall. 

Ethereum Recovers From $1,737 – May 01, 2025

Following the preceding day’s uptrend, May 01, 2025, the Ethereum price movement continued its upward momentum. At 01:05 UTC, ETH price resisted at $1,805 and experienced a short-term fall. Shortly after, support at $1,800 at 01:50 UTC led the price to move up. However, at 02:20 UTC, the price movement entered an RSI Overbought zone, indicating a potential trend reversal. Likely, at 02:40 UTC, a pin bar, followed by a full-body red candle, hinted at a possible downtrend. As expected, the price movement of ETH resisted at $1,817, experiencing a short-term fall within the key levels. 

Will Ethereum Price Spur Bullish Rally?

In today’s Ethereum trend analysis, ETH price movement is projected to exhibit a strong bullish sentiment. Despite the short-term dip, if the Ethereum price attempts to break the key resistance, it could reach a new high, suggesting bullish momentum. If it fails to break the key zone, it could experience a sharp decline. As ETH shows strong strength, closely watch the key levels that might bolster the renewed upward trend.