- Rising wedge pattern breached on the daily for ETH/USD, but a close below is key for further downside.
- Support within the near-term for Ethereum seen at $628, should the price lose further ground and close below $700 area.
The Ethereum price on Tuesday is trading down 1.8%, as the market continues to bearish theme. Across the board, there appears to be little in the way of signs that the selling pressure will ease, with key levels being penetrated.
ETH/USD over the past couple of weeks, has formed a rising wedge pattern as seen on the daily frame, the candlestick has seen the price breaching the lower trend line of the mentioned pattern. Should ETH/USD close below, which is around $700, then this could open the door to further downside.
Technically, support in the near-term is seen at $628, where the price has been supported on several occasions already this year. A further breach could see a substantial drop back down to the $300 region, the price was last here on 9th April. Resistance to the upside is strong between $800-900, there is much in the way of a retest for $1,000.
ETH/USD daily chart
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks

Bitcoin Price Forecast: BTC corrects after sharp recovery during the weekend
Bitcoin price trades slightly down on Monday after rallying nearly 10% the previous day. US Bitcoin spot ETF data recorded a net outflow of $2.39 billion last week.

Dogwifhat Price Forecast: WIF bulls targeting 35% gains ahead
Dogwifhat price hovers around $0.74 on Monday after rallying nearly 16% the previous week. Lookonchain data supports a bullish outlook, showing that the wallet “Ansem” spent $2.3 million USDC to buy 2.97 million WIF tokens on Monday.

Cardano corrects after 70% surge following Trump’s endorsement to Crypto Strategic Reserve
Cardano price trades down by 11.5% on Monday after rallying 72.15% the previous day. US President Donald Trump’s announcement of a US ‘Crypto Strategic Reserve’ boosted ADA price.

BTC, ETH and XRP rallies as Trump announces ‘Crypto Strategic Reserve’
Bitcoin (BTC) price hovers around $93,000 on Monday after rallying 9.53% the previous day. Ethereum (ETH) and Ripple (XRP) prices followed BTC’s footsteps and rallied nearly 14% and 35% on Sunday.

Bitcoin: BTC bloodbath continues, near 30% down from its ATH
Bitcoin (BTC) price extends its decline and trades below $80,000 at the time of writing on Friday, falling over 15% so far this week. This price correction wiped $660 billion of market capitalization from the overall crypto market and saw $3.68 billion in total liquidations this week.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.