Ethereum Tests Key Resistance After 18% Rally and Targets $20,000

Ethereum is testing critical resistance after a significant rally, reclaiming the $1,800 mark and recovering over 18% since Tuesday. This rebound indicates renewed investor confidence amid macroeconomic uncertainties.

Key points include:

Analyst Gert Van Lagen identifies a 4-year inverse Head and Shoulders pattern on Ethereum’s weekly chart, suggesting a potential breakout targeting $20,000.
Ethereum remains 57% below its peak of $4,100, yet optimism is rising as crypto assets gain momentum despite global tensions.
Ethereum is currently priced at $1,740, having reclaimed key technical indicators which are being tested as support.
A break above $2,000 would confirm a trend reversal and could lead to a stronger recovery; failure to hold this level may result in further consolidation.

Maintaining support at $1,740 is crucial for continued upward movement.