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Ethereum (ETH) still maintains a key level of support after recovery after correction from last week. A recent reflection from historical demand zones led some analysts to suggest that Altcoin is preparing for a breakthrough.
Ethereum has key support
Ethereum regained the key level of USD 1600 after a decline below 1,400 USD for the first time since 2023. The second largest market capitalization has recently dropped to the two -year lowest level last week, fueled by the tariff war of the US President Donald Trump.
ETH touched USD 1385 last Wednesday, switching to the levels of all time (ATH) in 2018. Among the 90-day tariff salary announcement, Trump Ethereum increased by 10% from USD 1,480 to USD 1,600, briefly approaching the resistance of 1700 USD. However, its price increased to the support zone of $ 1,400-1500 on Thursday among market variability.
At the weekend, King Altcoins recovered, floating between 1,580-1680 USD price range in the last four days. Ethereum has regained support in the amount of USD 1,600 in the last 24 hours, fueling a stubborn mood among some market observers.
Ted pillow analyst noticed that ETH could get closer to a breakthrough from the tiny -term bottom line. According to him, investors could expect that the cryptocurrency will be 1,550-1600 USD now that global markets are gaining some strength.
He believes that maintaining this range can drive the price of Ethereum towards the one -month Dół line. Breaking and confirming this resistance, around USD 1670, may set the basis for a 20% jump towards the level of resistance in the amount of USD 2000.
Does ETH leave the forest?
Merlin Trader suggested This ETH is preparing for a breakthrough. The market watcher indicated a two -month cryptocurrency channel, which can be a “history” if the size increases.
The analyst believes that when Ethereum approaches the upper border of the channel: “Everything we need now is a volume” for height above USD 1,690, adding that the breakthrough from this level would be directed to 2,700 USD.
He also emphasized that the double ETH formation was completed After “breaking up” the 1 432 USD, signaling that he “survived the storm.” In particular, the cryptocurrency confirmed this pattern, which developed as part of Makro 2196–3904 USD, after March below USD 2100 support.
After recovery from the last falls, “now a face rally appears, which no one expects. $ 4,000 is just the beginning.”
Meanwhile, Capital Rekkt Highlighted Ethereum domination almost equal to venerable falls of all time. He explained that from June 2023 the ETH dominance fell from 20% to 8%, historically the opposite area of cryptocurrency.
“Basically, the domination of Ethereum must maintain this green area to get a chance to reverse ETH domination would be very favorable for Altcoin valuations over time,” he noted on Monday.
When the ETH dominance reached a range of 7.5% -8.25%, it reversed “to become more dominant on the market”, which can signal reversal for King Altcoins.
From this letter ETH trades on USD 1,609, which is a 1% decrease in daily time frames.
A distinguished painting with unmplash.com, chart from tradingview.com
