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Ethereum (ETH) has experienced significant recovery over the past week after jumping over 10% to the resistance of USD 1800. Cryptocurrency shoot caused him to recover key levels, which can ignite 28% of the continuation of the rally in the following weeks.
Ethereum is recovering the first level for months
Over the past week, the price of Ethereum has increased by about 14%to master the key support levels again. As part of the recovery of the cryptocurrency market, it regained the USD 1,600-1650 at the beginning of the week, maintaining the historic demand area as support.
According to Rekt Capital analyst, ETH is holding The bottom of its historical demand zone, from USD 1650 to 1950, after the last performance, “repeating history also by short.”
Since the loss of macro range from USD 2196–39.00, cryptocurrency traded in this respect, an advantage up the region and transforming it into resistance, and minus the minus below the DNA to change it into support, as in 2023.
According to the analyst, “Ethereum must stick to here. If this price stability can be maintained … there is a chance” to repeat the results in mid -2012, in which the token affected from this region and reached the highest level of 2024 of USD 4093.
Meanwhile, Daan Crypto trades excellent This Eth has returned to the horizontal level for support. The analyst noted that from the moment of closing over USD 1750 in the last three days, King Altcoins has shown “a change in market dynamics.”
In particular, Ethereum has not been able to regain previous horizontal levels for months, rejecting and making fresh minima. Daan stated that the price range of 1750–2100 USD is of key importance for continuing the stubborn ETH rush.
ETH on the edge of the explosion
Among this performance, ETH is approaching a breakthrough from the inheritance for several months. The cryptocurrency has been down since reaching the height of the cycle of USD 4,27 at the beginning of December, from that time backing to over 56%.
However, Ethereum tries to break away again from the resistance decreasing among the re -test of the 1,800 USD barrier. Crypto Cezar analyst confirmed that ETH “is on the verge of explosion. We really only need this higher level …”
Ted pillow analyst considers that 28% jump to the next month may be possible if the cryptocurrency regains this key low -term resistance. He pointed out that the zone USD 1,800-1850 is the next level that can be broken in front of the $ 2,000 barrier, noting the opposite head and shoulders pattern on the ETH chart.
“If ETH manages to break over him, he can accumulate $ 2.2 thousand $ 2.3,000 in May,” he concluded. Another analyst previously suggested that Ethereum would not start a fresh rally until he regained the $ 2330 barrier, in which over 60 million addresses bought cryptocurrency.
Since then, Ethereum has traded on USD 1,795, which is an escalate in the number of times by 2.1%.
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