8 May 2025
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Ethereum Aims for Breakout to $2,100 as Key Support Holds
Ethereum Price Overview
Ethereum (ETH) has reclaimed the crucial $1,800 resistance level after holding $1,750 as support. Key points include:
- ETH increased nearly 20% over the past two weeks, reaching a one-month high of $1,873.
- Current price is $1,811, reflecting a 1% decline in the daily timeframe.
- A breakout towards the $2,100 resistance is anticipated if ETH holds above the $1,807 mark.
- If the $1,750 support fails, analysts warn of a potential 15% drop toward the $1,500s.
- Analysts indicate that ETH is consolidating within the $1,750-$1,870 range and a breakout could lead to prices near $2,500.
Market Sentiment
Market observers emphasize the need for bulls to act quickly to prevent a correction. Analysts advise caution, particularly if ETH closes below $1,750.