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Jakarta, Pintu News – Ethereum (ETH) recently recorded a significant rise, breaking through key resistance and passing the $1,800 mark. This rise signals a possible change in trend after a long period of uncertainty. With global market conditions still filled with tension, Ethereum (ETH) seems to be leading the recovery in the crypto market.
After several weeks of selling pressure, Ethereum (ETH) has finally managed to break the technical resistance barrier above $1,800, indicating a change in momentum that may lead to a bullish trend. Data from IntoTheBlock shows that the market capitalization of Ethereum (ETH) has increased by 12% in the last 24 hours, signaling increased interest and capital flow into this asset.
This increase comes despite heightened geopolitical tensions, including a potential trade war between the US and China. However, Ethereum (ETH) is showing strong resilience, with on-chain indicators showing only slight resistance ahead. The biggest resistance is seen around $1,860, which if the current momentum continues, could be quickly surpassed.
Read More: Crypto Price Surge: What’s Driving Today’s Increase?
Ethereum (ETH) is now in a favorable position to reach the psychological level of $2,000. After successfully breaking out of the low demand zone and showing market strength, Ethereum (ETH) now faces the nearest resistance at $1,860. If this level can be broken, then the road to $2,000 will open wider.
The strength of the latest rally and the improved market structure suggest that reaching the $2,000 level is not impossible. This continued momentum build indicates that Ethereum (ETH) could be a key asset in the next bullish wave in the crypto market.
Ethereum (ETH) is now trading above $1,800, showing strong momentum after successfully surpassing the 200 MA and EMA moving averages in the 4-hour chart. This is the first time since January that Ethereum (ETH) has shown such a technical breakout. Now, the main challenge is to maintain the level above $1,750, where these two moving averages converge.
If Ethereum (ETH) manages to maintain its position above this level and surpass $1,800, it will further validate the breakout and open the opportunity to test the $2,000 mark. This would signal a return of market confidence and possibly trigger a new wave of buying interest.
With a favorable technical setup and growing momentum, Ethereum (ETH) is on track to reach the $2,000 level again. The next trading session will largely determine whether Ethereum (ETH) can hold on to its gains and reach higher levels, or whether it needs more time to build strength below the key resistance.
Read More: Aave Breaks $150 Resistance, What’s Next?
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
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Ethereum (ETH) Jumps 12% in 24 Hours, Is $2,000 the Next Target? – Pintu
