Ethereum Bulls Poised: $1875 Resistance Key to Next Leg Up

ETHUSD is consolidating after minor pullback. It hits an high of $1857 and is currently trading around $1820.

Most recent on-chain data and technical levels of ETH show a mixed tone sentiment environment, as reflected by bullish indicators such as ETF inflows (Fidelity holds $5.8M on May 1) and positive technical momentum (RSI at 53.72, bullish MACD crossover in 4-hour chart). Higher network activity is observed with higher gas prices and volume, as exchange inflows allow for possible sell interest while volume readings indicate decreasing sell pressure. The future Pectra upgrade on May 7, 2025, will look to boost scalability and staking efficiency, again affecting investor sentiment

Overall trend remains bullish  as long as support $1500 remains intact. The key near-term resistance is at $1875 (trend line joining $4109 and $3746) any breach above targets $2000/$2300/ $2500/$2770/$3000/$3400/$3600/$3800/$4000. A robust bullish trend will only materialize above $4100.

Immediate support is around $1675. Any violation below will drag the price down to $1620/$1500/$1200/$1000. A breach below $1000 could see Ethereum plummet to $800/$500.

It is good to buy above $1875 with SL around $1500 for a TP of $2770/$3000.