The $ETH price has continued to bleed out against USD, and more seriously against $BTC. Has a bottom finally been found, and where could the $ETH price go from here?
$ETH consolidates above $1,600 major support
Source: TradingView
The ETH/USDT chart shows that the $ETH price is starting to consolidate above the major horizontal support level at $1,600. A candle wick down to $1,400 was bought up quickly last week, suggesting that bulls will strongly support this level.
If one looks left in the chart, it can be seen that this level was strong support and resistance in mid 2022, through to October 2023. In fact, the end of the price fall in June 2022 coincided with the FTX crash, where $ETH went to a nadir of $880.
If one looks at the RSI on the weekly time frame for this crash, it shows that the indicator went to a level of 26.00, which is the lowest ever reading. That said, the current RSI level is the third lowest in $ETH’s history, perhaps also signalling that the botto
We współpracy z: https://cryptodaily.co.uk/2025/04/has-ethereum-eth-hit-bottom-price-analysis-and-predictions
