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Ethereum once again fell below Sign of $ 2000, a psychological level that he regained briefly at the beginning of this week. The market correction in the last 24 hours has burdened Ethereum recovery shoot, and the leading Altcoin has I saw immersion in sentiments This can lead to a deeper inheritance or rapid reflection in half.
Compact -term moods are cautious, but the recent analysis from a well -followed cryptographic analyst drew attention to a significant technical event that opens stubborn perspective For the price of Ethereum.
Ethereum gets a 300-week moving average again: what has happened lately?
Taking the X, Crypto Analyst Cryptobullet to the Social Media Platform indicated The fact that Ethereum has affected the 300-week-old movable average for the second time in its history. The first case took place in June 2022 during a disaster in the entire market, in which the price of Ethereum dropped to 880 USD before the start of long, ponderous recovery.
The second event took place this month, March 2025, just like Ethereum is still expanding its own Profit fights A foot above USD 2000. Since the Ethereum will again affect the 300-week-old movable average, we can only look back to see what happened recently to get the perspective of what to expect now.
In June 2022, touching the 300-week-old movable average meant the beginning of the long-term recovery phase. After reflection from this level, the price of Ethereum increased by over 140% in the next eight weeks, ultimately exceeding over USD 2,200 in August 2022 before the next correction.
Intracereal reflection to ETH, but resistance before
Cryptobullet noticed the importance of this movable average, creating it as a key historical support zone. The analyst argued that regardless of the bears of sentiment in a miniature period, this type of macro level usually prepares a scene for a significant reflection.
“Even if you are a bear, you can’t deny that we have achieved a very important level of support,” he He wrote Adding that its target price for the upcoming reflection is from USD 2,900 to 3200 USD. Nevertheless, there will be a reflection Depends on how The price of Ethereum reacts to the level, because the continuous movement would cancel any stubborn rush.
For now, the price of Ethereum is trapped under the bear, and Bulls will have to recover the $ 2000 zone before any sustainable reflection in the range of USD 2900 and USD 3,200 will materialize. In addition, the last price correction in the last 24 hours increases the risk of Ethereum prices Closing march below 3M Bollinger teams, which currently amount to around $ 2000. Closing below 3m Bollinger Bands may mean problems with the leading Altcoin.
However, if the analysis of Cryptobullet turns out to be precise, Ethereum may soon enter a period of stronger price, which takes place in the coming weeks. At the time of writing, Ethereum trades on USD 1,907, which is 5.82% in the last 24 hours.
A distinguished picture from Unsplash, tradingview.com chart
