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The Ethereum price has slipped 4% in the last 24 hours to trade at $1,555 as of 3:35 a.m. EST on a 37% plunge in trading volume to $20.7 billion.
This slump in the ETH price comes as the Ethereum Foundation moves 1,000 ETH worth $1.53M for grant distribution.
🚨 NOW: The Ethereum Foundation has moved 1,000 $ETH worth $1.53M for grant distribution. pic.twitter.com/kIfmEw5Fe0
— Cointelegraph (@Cointelegraph) April 11, 2025
Ethereum Price Consolidates At $1,500 Support
Ethereum (ETH/USDT) spent several months consolidating around the $1,500 level between July and October 2024. This range acted as a strong support and accumulation zone, eventually fueling a bullish breakout.
The breakout led to a sharp rally, pushing ETH’s price close to $4,800 and forming a major buy-side liquidity zone. After hitting this high, the price retraced, and temporary support was found at around $2,050, a crucial level that served as a post-breakout retest point.
However, the bullish momentum couldn’t hold. ETH began to slide, forming a consistent pattern of lower highs and lower lows. This marked the beginning of a well-structured, bearish descending channel. Since January 2025, Ethereum has followed this channel closely, with multiple Breaks of Structure (BoS) highlighting the steady decline and confirming the weakening bullish pressure.
ETHUSDT Analysis Source: Tradingview
A key resistance zone between $1,900 and $2,200 has formed, aligning with a previous Order Block (OB). This area is a major barrier to price recovery, consistently capping relief rallies.
ETH has also bounced from the $1,370 support level, a minor low within the ongoing bearish channel, hinting at a possible short-term reversal or relief rally. However, the price action remains confined within the descending channel, and a break and close above the $2,000 level would be required to signal a potential trend reversal.
The Relative Strength Index (RSI) currently sits at 34.78 after recently dipping as low as 26.13. This shows that Ethereum entered oversold territory and is now beginning to recover, although bullish momentum remains limited. A sustained RSI move above the 40–50 zone would strengthen the case for a bullish recovery.
Still, if ETH fails to break above the $1,700–$2,000 resistance range and faces another rejection, it could retest the $1,500 and $1,370 support levels.
A breakdown below these could pave the way for a deeper drop toward the $1,100–$1,200 area, marking the next significant psychological and technical support.
Best Wallet Presale Charges Toward $12M -Best Crypto To Buy Today?
As Ethereum consolidates near the support zone, investors looking for profitable projects might want to consider Best Wallet (BEST) as a compelling alternative, as its presale has crashed past $11.6 million.
Best Wallet has a built-in DEX, a presale aggregator, and an upcoming debit card with up to 8% cashback. It also offers fun features like free spins, loot boxes, bonuses, and lower fees.
Holders of the BEST token get lower fees and better prices through connections with over 200 decentralized protocols and 20 cross-chain bridges. Plus, it makes it easy to convert over 100 fiat currencies into crypto.
According to crypto influencer ClayBro, with over 136k subscribers, the BEST token has the potential to surge up to 10X once it officially hits the market.
The “Upcoming Tokens” section is a standout feature that helps users discover high-potential early-stage projects. For example, the platform spotlighted Pepe Unchained (PEPU) before it surged 6X.
The launchpad offers several projects, including BTC Bull Token (BTCBULL), a meme coin that rewards holders with free Bitcoin, and Solaxy (SOLX), a Solana layer-2 project.
The BEST token is the engine powering the ecosystem. It supports on-chain activities and enhances security. With over 500,000 users and a monthly growth rate of 50%, Best Wallet is rapidly gaining momentum.
The best plays are the ones you catch early. 👀
With Best Wallet, you can track upcoming projects, monitor token balances, and claim your tokens directly within the app.
Opportunities don’t wait. Make sure you’re ready. 🔥
Download Now 📲 https://t.co/he5kzra7TY pic.twitter.com/pW9aQMDW9C
— Best Wallet (@BestWalletHQ) February 15, 2025
BEST is priced at $0.024675 and can be purchased using crypto or bank cards. Users can also stake BEST tokens for an annual yield of 133%.
Investors can secure the best deal by buying before a scheduled price increase in around 11 hours.
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