Ethereum Gains Over 4% and Reclaims Key Support at $1,574

Ethereum (ETH) prices increased by over 4% recently, breaking out of a consolidation zone between $1,548 and $1,599. Despite some recent retracement, bullish momentum indicates a potential price rally.

Price Targets

Renowned analyst Ali Martinez predicts a target of $1,810.
Current support level reclaimed, with a demand zone between $1,547 and $1,595 containing 5.48 million ETH across 2.83 million addresses.
As of now, Ethereum trades at $1,642, showing resilience post-breakout.
Strong resistance anticipated between $1,791.11 and $1,838.86, where 1.61 million ETH is held by 3.2 million addresses at an average price of $1,810.
A breakthrough past this resistance could indicate a trend reversal following declines from a $4,000 peak in December 2024.

Market Sentiment

56.7% of ETH addresses are “in the money,” totaling 8.3 million ETH worth approximately $13.24 billion.
41.99% (6.14 million ETH) of holders are “out of the money,” indicating cautious market sentiment.
Only 191,830 ETH (1.31% of total volume) is “at the money,” suggesting minimal congestion at current levels.
Currently trading at $1,642, ETH has experienced an 8.50% decline over the last week.
Daily trading volume decreased by 13.08%, reflecting waning market interest.