{"id":22289,"date":"2025-04-22T09:30:23","date_gmt":"2025-04-22T09:30:23","guid":{"rendered":"https:\/\/cryptd.in\/ethereum-attempts-breakout-from-multi-month-downtrend-but-can-eth-hold-1600\/"},"modified":"2025-04-22T09:30:23","modified_gmt":"2025-04-22T09:30:23","slug":"ethereum-attempts-breakout-from-multi-month-downtrend-but-can-eth-hold-1600","status":"publish","type":"post","link":"https:\/\/cryptd.in\/cs\/ethereum-attempts-breakout-from-multi-month-downtrend-but-can-eth-hold-1600\/","title":{"rendered":"Ethereum Attempts Breakout From Multi-Month Downtrend, But Can ETH Hold $1,600?"},"content":{"rendered":"

Amid the latest market recovery, Ethereum (ETH) attempted to break out from its multi-month downtrend, leading some market watchers to suggest that a new rally could start soon. However, as price struggles to hold the $1,600 level as support, the cryptocurrency risks losing recent momentum.<\/p>\n

Ethereum Breakout Eyes Key Resistance<\/h2>\n

On Easter Sunday, the crypto market saw a positive end-of-week after jumping 4.2%. Bitcoin (BTC) closed the week above the $85,000 barrier for the first time this month, while Ethereum surged<\/a>\u00a05.4% to attempt to reclaim the $1,600 resistance for the third time in the past seven days.<\/p>\n

ETH closed the week around the $1,640 mark before climbing to $1,658 during Monday\u2019s early hours. Amid this performance, the cryptocurrency attempted to break out of its multi-month downtrend for the first time.<\/p>\n

Crypto analyst Ted Pillows highlighted<\/a> that Ethereum broke out of its descending resistance on Monday morning. According to the post, the cryptocurrency has been in a downtrend in the one-day chart since early February, retesting the trendline thrice over the past few months, but always being rejected.<\/p>\n

\"ethereum,<\/p>\n

Its latest rejection from the descending resistance sent the cryptocurrency below the $1,700 mark, which fueled the bearish sentiment brewing toward ETH. The start-of-April retraces, driven by the ongoing tariff war between the US and China, further sent Ethereum to lower levels, hitting its two-year low below $1,400 and retesting the 2018 highs.<\/p>\n

The analyst noted that ETH could rally toward<\/a> $2,000 during April\u2019s last leg if the cryptocurrency holds the $1,600 support, which it hasn\u2019t been able to do for most of the month.<\/p>\n

Is The ETH Bottom Close?<\/h2>\n

Analyst Carl Runefelt also highlighted<\/a> ETH\u2019s downtrend breakout, affirming that it \u201cmight go absolutely parabolic starting from here.\u201d According to Runefelt, the resistance breakout eyes the $3,000 mark, which was lost during the February retraces.<\/p>\n

However, Ethereum has lost its short-term momentum, retracing its 24-hour gains in the past few hours. Its price dropped<\/a> below the $1,600 mark into the key $1,500 support level, trading around the $1,570-$1,580 price range.<\/p>\n

This retracement could hint that ETH\u2019s recovery failed to gain strength, risking a drop to the current level\u2019s lows. However, a bounce from this zone to hold the $1,650 mark could confirm the breakout and propel the cryptocurrency\u2019s price toward $1,700-$1,800 resistance.<\/p>\n

Analyst Ali Martinez zva\u017euje<\/a> that ETH\u2019s new rally won\u2019t start again until it breaks through the $2,330 supply wall, where over 12.6 million addresses purchased around 68-63 million ETH.<\/p>\n

Meanwhile, another market watcher Navrhovan\u00e9 str\u00e1nky<\/a> that Ethereum\u2019s trading pair against Bitcoin is \u201cthe only chart to look at right now.\u201d Crypto Fella affirmed that the bottom of the ETH\/BTC chart is close, as it has reached its lowest level since 2020.<\/p>\n

Per the chart, the last time ETH\/BTC dropped below the 0.022 mark, it hovered between the 0.016-0.022 zone for some months before bouncing toward its late-2021 high.<\/p>\n

As of this writing, Ethereum trades at $1,571, a 1% decline in the daily timeframe.<\/p>\n

\"ethereum,<\/p>","protected":false},"excerpt":{"rendered":"

Amid the latest market recovery, Ethereum (ETH) attempted to break out from its multi-month downtrend, leading some market watchers to suggest that a new rally could start soon. However, as price struggles to hold the $1,600 level as support, the cryptocurrency risks losing recent momentum. Ethereum Breakout Eyes Key Resistance On Easter Sunday, the crypto […]<\/p>\n","protected":false},"author":1,"featured_media":22291,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-22289","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nEthereum Attempts Breakout From Multi-Month Downtrend, But Can ETH Hold $1,600? - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/cs\/ethereum-attempts-breakout-from-multi-month-downtrend-but-can-eth-hold-1600\/\" \/>\n<meta property=\"og:locale\" content=\"cs_CZ\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Attempts Breakout From Multi-Month Downtrend, But Can ETH Hold $1,600? - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"Amid the latest market recovery, Ethereum (ETH) attempted to break out from its multi-month downtrend, leading some market watchers to suggest that a new rally could start soon. 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