Ethereum falls below $2900: Lower prices might follow

Ethereum price analysis for April 25, 2022, comes on a bearish note for the token with increased chances of dropping below $2800 in the near future. Moreover, in the last 24 hours, ETH dropped 2.51% in prices, followed by losing the $2900 price region. On the other hand, our ETH price analysis for April 22, 2022, noted that ETH bulls failed to reclaim prices above the $3000 price level and due to a large-scale sell-off in the crypto market, ETH also turned bearish and continues to make lower lows. 

The data from CoinMarketCap shows that the trading volume of Ethereum surged 89.25% in the last 24 hours, and there was a nearly 2.77% increase in the market cap. Furthermore, the Market Dominance has dropped to 19.13%, as the Volume / Market Cap Ratio has a value of 0.05012.

The daily candle for Ethereum opened at a price of $2920 and reached a daily high of $2925. Moreover, the daily low for the token stands at a price of $2841. The current price of a single ETH token is $2861. 

Ethereum price analysis for April 25 on the daily chart

Ethereum price analysis for April 25, 2022, will consider the data integrated into the daily chart below and predict the future price action.

Source: TradingView

The RSI indicator shows a value below 39 which means that the bears are dominating and the bulls are having a hard time pushing Ethereum above $3000. 

The MACD indicator shows that the MACD line is moving apart from the signal line while the latter continues to dominate. The MACD histogram has also turned bearish, indicating a sell-off for ETH.

The price action is situated in the lower end of the Bollinger Bands and a bearish breakout might follow in the coming days for the world’s second-biggest cryptocurrency.

Conclusion

Ethereum price analysis for April 25, 2022, ends on a bearish note for ETH with high chances of touching $2500 if situations remain the same.