- ETH holds below $1,960 resistance as bulls eye a breakout before April’s close.
- Wedge structure tightens with price trapped between $2,020 supply and wick zone.
- ETH dominance nears all-time lows, signaling a crucial altcoin market pivot point.
Ethereum trades in a tight range, with bulls eyeing control before April’s close. Price remains capped by resistance, with key support below. How ETH reacts may shape altcoin sentiment heading into May.
Tight Structure Limits Ethereum’s Immediate Moves
Market analyst Credibull provided a detailed technical analysis of Ethereum’s positioning ahead of the April monthly close. He identifies $1,960 as the critical level for a bullish monthly finish. ETH currently hovers just below this mark, still capped by a D3 supply zone ranging from $1,945 to $2,020.
Source: CrediBULL
According to his analysis, this red supply area served as a last major distribution before the recent drop and has repeatedly rejected bullish advances. Below, he marks the “wick zone” between $1,820 and $1,710 as the primary demand base. ETH price dipped into this zone before bouncing, establishing it as a high-value defensive level.
In response to the current pattern, he interprets recent higher lows as forming an ascending wedge structure, narrowing into a potential breakout setup. The analyst outlines a preferred scenario in which price first dips into the wick zone, resets support, then rallies and closes the month above the green level.
From that setup, he maps two key paths: a bullish recovery reclaiming $1,960, or a continued rejection forcing ETH back into support. Should Ethereum fail to break above resistance by month’s end, he warns that sellers may retain control into early May.
ETH Dominance Tests Bottom Range as Market Compresses
A different angle comes from Rekt Capital, which focuses on Ethereum’s market dominance and its impact on altcoins. He notes that ETH dominance is pressing against its previous all-time lows, entering a zone critical for any reversal.
Rekt Capital’s chart-based evaluation shows Ethereum stalling below the $2,050 resistance after rejecting the Q3 supply zone. The timespan also displays two recent failed breakout attempts from within a rising wedge, adding weight to bearish potential.
Source: Rekt Capital
Upon analyzing the wedge formation, he states that ETH may soon revisit the wick zone around $1,810, where demand has consistently responded. This wedge pattern tightens further, and his analysis shows that a decisive move appears imminent.
Ethereum’s price action coils tightly within a critical structure, with dominance and price levels nearing inflection points. Rekt Capital emphasizes that April’s closing direction will determine near-term sentiment and momentum into May. Traders now watch closely for confirmation, knowing that a decisive move above or below key levels could trigger Ethereum’s next major leg, potentially reshaping the broader altcoin landscape in the process.
