EthereumPoW Price Analysis Powered by AI

Long-Term Trend Analysis (Daily Chart)

1. Price Levels and Volume:

   • The price trend starting from January 4, 2025, shows a consistent decline till March, with the price dropping from around $3.68 to $1.24. The reduction in price is complemented by fluctuating volume levels, suggesting occasional spikes in trading activity which might coincide with key support or resistance tests.
   • Volume Spikes: Notably, volume peaks on February 3, 2025, and March 11, 2025, both indicating significant bearish sentiment around those periods due to price declines.

2. Support and Resistance Levels:

   • Historical highs and lows within this period can be considered as immediate resistance or support. The regions around $1.80 favor resistance due to repeated failures to maintain pricing beyond it starting from Feb 21.
   • Immediate support is observed near recent lows at ranging $1.24, with the price currently approaching this level.

3. Simple Moving Average (SMA):

   • Calculating the 50-day SMA, which overall trends downwards, supports the bearish sentiment. The daily closing prices consistently straggle below this average, indicating selling pressure predominates.

Short-Term Indicators (Hourly Chart)

1. Moving Averages Crossover (Hourly)

   • The crossover of faster EMAs below slower EMAs in early sessions confirms a bearish setup, indicating additional downside may occur. The latest data (April 3, 2025) shows failing lows around $1.24.

2. Relative Strength Index (RSI):

   • The hourly RSI appears to hover near oversold less than RSI 30.0, suggesting potential for a brief technical bounce but not strong enough to confirm any bullish reversal.

3. MACD Analysis (Hourly)

   • The MACD is either on the verge of a bullish crossover or slightly below the signal line in recent hours, indicating a potential shift but still confirms bearish trend hold sway.

Market Sentiment and Potential Catalysts

1. Market Volume Pattern:

   • Overall trading volume suggests consistent interest with brief volume spikes, meaning market participants are active — likely responding to market noise or minor crypto events.

2. Price Action Considerations:

   • Apr 3, 2025’s most recent price actions show a closing price of $1.24 paired with a volume spike, suggesting investor activity at these lower price levels—indicative of potential retesting.

Conclusion

Overall, the technical analysis reveals persistent bearish conditions within the ETHW market due to continuous declines below Moving Averages and weak RSI positioning. Despite potential minute recoveries, the major downtrend line and predominance of negative sentiment dictate selling ETHW in anticipation of further decline.