The cryptocurrency market is on the path of concluding the month of April. Reportedly, this month was considered to be one of the most volatile ones in years. While Bitcoin price and top memecoins added significant value to their respective portfolios this month, Ethereum price displayed a neutral price action.
Over the past 30 days, the ETH price has recorded a net variation of approximately 1%. Currently trading around the $1,800 mark, the altcoin leader has failed to regain momentum this month. This has created a FOMO-like situation in the crypto community for this token.
Considering the present market sentiments, will Ethereum make it big during May 2025? In this article, we will explore the technical and on-chain analysis of this token. Further, we will uncover the possible ETH price prediction for the next month.
ETH Price On-chain Records Strong Bullish Reversal!
Despite a bearish start, the Ether ETF has successfully regained momentum during the last week of April. Reportedly, during this month, ETH ETF recorded 21 active trading days (including today). Out of these days, it witnessed a positive netflow for only 6 days, whereas it displayed 15 negative trading days.
As of today, the Ethereum ETF has a 4-day positive inflow streak. Notably, over its 12 negative days this month, it has lost a total of $222.35 million. On the other hand, its 6 positive days have contributed a total of $290.97 million. Moreover, it has experienced 2 neutral days. With this, the net flow of the 2nd largest crypto ETF for April was +$68.62 million.
By evaluating these statistics, the Ethereum ETF is on the path of concluding the month of April on a positive note.
The Ethereum price experienced significant volatility in its price action over the past few weeks. This resulted in the uneven flow of ETH tokens on exchanges. Considering the above chart, the Ethereum Exchange Reserve on All Exchanges moves with a strong baseline around the 19 million mark, suggesting a strong liquidation point on its higher price levels.
The Ethereum chain has displayed a stable activity on its network over the past few months. Reportedly, the Number of Active Addresses on the Ethereum Network (Monthly) is about to close this month at 13.33 million, a drop of 4.30% when compared to its previous month of 13.93 million.
Ethereum Price Retests Its Pivotal Resistance Of $1,800!
The ETH price recorded a massive price correction during the first week of April. However, over the course of 3 weeks, the altcoin has steadily gained momentum, resulting in it erasing all its losses from the Ethereum price crash. As of today, it is exchanging hands at $1,822 with an intraday trading volume of $14.27 billion.
The Moving Average Convergence Divergence (MACD) records a constant green histogram in the daily time frame. On the other hand, the EMA 12 & 26-day witnessed a constant rise in the Ethereum price chart, suggesting a bullish rise for the top altcoin.
Furthermore, the SMA indicator constantly supports the price action in the 1D time frame. Considering the technical sentiments of this altcoin, it may continue displaying a positive outlook during the upcoming time.
Will ETH Price Go Back Up?
Maintaining the value above the $1,800 mark could set the stage for the largest altcoin by market cap to head toward its important resistance trend level of $2,000. Suppose the odds continue favoring the bulls at that point, this could result in it heading toward its upper target price of $2,250.
On the contrary, if the bears regain dominance, the price of Ethereum token could plunge toward its low of $1,700. Furthermore, if the negative influence intensifies amid rising uncertainty, this could result in its nose diving toward its lower support level of $1,500 during next month.
Also Read: Ethereum Foundation Sets 2025 Goals with New Leadership Model
