Ethereum Surges 12% in 24 Hours, Eyes $2,000 Resistance Level
Ethereum Breaks Key Resistance
- Ethereum surpasses $1,800, indicating bullish momentum.
- Market cap increased by 12% in 24 hours, reflecting renewed investor interest.
- Key resistance identified near $1,860; breaking this could lead to further gains.
- Traders are optimistic about a potential move towards the $2,000 level.
Market Sentiment and On-Chain Activity
- Despite global tensions, Ethereum shows resilience compared to traditional markets.
- Increased on-chain activity and buying pressure observed.
- Investors previously exited risk assets are cautiously re-entering the market.
Technical Analysis
- Ethereum trades above the 4-hour 200 MA and EMA for the first time since January.
- Holding the $1,750 level is crucial for confirming the upward trend.
- A decisive move past $1,800 would validate the breakout and target $2,000.
- If unable to maintain above $1,750, Ethereum may enter a consolidation phase.
The upcoming sessions will be critical for determining Ethereum's ability to sustain gains and approach the $2,000 mark.