Ethereum Trading Above $2,000 as Analysts Predict Breakout Potential
Ethereum is currently trading above $2,000 after a significant decline of over 38% since late February. The price briefly dipped below $1,800, raising concerns about a bear market.
Key points include:
- Investor sentiment is shifting as ETH stabilizes and retests critical levels.
- Analyst Ted Pillows suggests Ethereum may be concluding its "manipulation phase," which often precedes clearer market direction.
- A breakout above $2,200 could signal a new expansion cycle for Ethereum.
- ETH is currently at $2,070, with the next major resistance at $2,250, which needs to be reclaimed for sustained recovery.
- If ETH fails to hold above $2,000, it risks dropping back toward the $1,800 support level.
The following few sessions are crucial for determining Ethereum's trajectory.
