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After growing on Wednesday by over 10%, Ethereum (ETH) for the first time exceeded the $ 2000 rating from March, leading some analysts to suggest that the second largest crypto can recover their macro in the coming days.
Ethereum goes in seven weeks
For the first time in over a month, Ethereum tested the resistance to $ 2,000, reaching the highest level of seven -week -old level 2,075 USD. King Altcoin lost this level at the end of March, moving to the two -year lowest level of USD 1385 in the following weeks.
In connection with the recovery of the overdue April market, ETH has increased above key levels, recovering the USD 1,600-1750 in the last 14 days. At the beginning of this week, the cryptocurrency finally regained the resistance of USD 1,800, but some investors are worried about the price and a potential decrease in lower support levels.
Nevertheless, Ethereum increased by 8.3% compared to USD 1950 after US President Donald Trump revealed yesterday that the “main trade agreement” with “a large and very respected country” would be announced on May 8.
On Thursday, the Trump transaction worth $ 6 billion with Great Britain exceeded ETH exceeded the $ 2000 rating and near USD 2,28. The Rekt Capital analyst emphasized “so far a strong breakthrough”, noting that the cryptocurrency maintained the bottom of its historical demand zone and reflected about 14% at the summit.
After the price of price, the analyst explained that ETH must transform the USD 1930 into support to avoid wick and rejection, and confirm a breakthrough compared to the USD 2,200.
“Ethereum will simply have to stay above 1930 USD to continue to be set up again 2,200 USD (black). The ETH goal is to use this light blue historical demand for reservation with macro 2200–3900 USD”-he described.
Eth eyes recent bull rally
So Rekt Capital pointed The domination of ETH consisted in “annulment after preparing new times”, which resembles his performance in 2020. At that time, the dominance of cryptocurrency reflected in a recent low level, growing towards higher levels in the following months.
Meanwhile, Daan Crypto Trades noticed that Ethereum is testing its high range in relation to the BTC commercial couple. According to post: “This movement is small compared to what it must compensate to see the appropriate relief. However, you can see how much impact on the market on the Alts, simply moving ~ 7% in relation to BTC.”
Despite the appearance of the “decent” after the price jump, the trader advised investors not to be excessively excited until ETH/BTC does not set off and maintains the highest range of 0.0202.
“If he does, we can get a configuration of a larger potential reversal in a few weeks in Alt/BTC pairs and that BTC.D goes down. For now,” explained Daan.
He too suggested Investors should be prepared for a huge price movement, because this performance “generally ends with a violent fashion with a great wick towards growth before cooling.”
Ali Martinez Highlighted That the key supply barrier for cryptocurrency is around USD 2,380, where 69.6 million ETH bought 12.72 million addresses. According to the analyst, “cleaning this level can ignite a new bull rally”.
Ethereum trades after $ 2050 from this magazine, which is 13.5% boost over time.
A distinguished painting with unmplash.com, chart from tradingview.com
