Ethereum Price Surges 14% as Analysts Predict Potential 28% Rally
Ethereum (ETH) has recovered over 10% in the past week, reaching the $1,800 resistance level. This recovery may lead to a potential 28% rally in the coming weeks.
Key Developments
- ETH's price increased by approximately 14%, reclaiming the $1,600-$1,650 support zone.
- Analyst Rekt Capital noted ETH is maintaining its historical demand zone between $1,650 and $1,950.
- The cryptocurrency traded within its previous range after losing the $2,196-$2,390 Macro Range.
- Daan Crypto Trades observed a change in market dynamics as ETH closed above $1,750 for three consecutive days.
- ETH is nearing a breakout from a multi-month downtrend that began after hitting a cycle high of $4,107.
- Analysts believe reclaiming the $1,800-$1,850 zone could allow ETH to target $2,200-$2,300 in May.
- Current trading price is $1,795, reflecting a 2.1% daily increase.
