- Ethereum escaped a few months of downtrend, rising from $1,600 to more than $2,500 after a low blow.
- Technical indicators RSI and MACD confirm bullish momentum and support the potential continuation of the upward trend.
Ethereum is the second largest cryptocurrency by market capitalization after Bitcoin recently ignored its long-term market trends. For months, Ethereum had followed a downtrend that led to testing the $1,500 zone. However, assets focused on breakouts that led to a surge in parabola.
Ethereum’s current market behavior explained
Tracking ETH’s current market performance at the time of reporting, CoinmarketCap data reveals that the cryptocurrency opened its price at $2,542.76. During this session, Ethereum reported $2,505 and a high of $2,696 over the last 24 hours. At the moment, ETH is above its daily lows, trading beyond the $2500 zone and trying to regain a day of gains.
Market data shows that Ethereum traded at $2,550.69, a 4.35% decline over the last 24 hours of this report. Furthermore, the market capitalization is $3079.3 billion, reflecting a daily 4.35% decline. Trading volume reached $249.2 billion, down 10.57% within the same period.
The market-cap ratio for over 24 hours is 8.56%, indicating strong trading activity. Intraday prices fell from $2,698.80 to $2,550.69, showing a steady downward movement as price action continued consistently without a major recovery.
Ethereum Technical Analysis: MACD and RSI Indicators
The daily TradingView chart shows that the ETH/USD pair is in favor of the buyer, with signs of a bullish turn being continued. Between the second half of 2024 and early April 2025, ETH entered a clear long downward trend in the downward regression channel.
In this downtrend, ETH has dropped from a high of over $4,000 to a low of nearly $1,600. When prices exceeded the channel’s cap in mid-April, it marked the end of the downward trend and the beginning of an upward movement.
sauce: TradingView (ETH/USD chart)
RSI supports this trend. This began the month in the territory of sales and rose in May, reaching over 80 years of age. Currently, the RSI is 63.87, below the previous 71.62, and the market is slightly cooled, but fills up over 50. The MACD line remains above the signal line, with values of 172.66 and 185.42, respectively.
The histogram is slightly negative at -12.76, signaling short-term integration, but the overall trend remains positive. Together, the breakout from the downward channel, maintaining RSI intensity, and still positive MACD suggests that ETH continues to rise despite slight dips.
