$ETH HAS RECAPTURED THE LEVEL $2,000 & A RESURRECTION FROM THE DEPTHS $1,736!
After moments of extreme panic, the King of Altcoin has officially returned to the race.
The price chart has just recorded the moment Ethereum broke through an important psychological barrier, marking the return of the Buying side.
🔷 Previously, selling pressure had caused the ETH price to free fall to a low of $1,736.02.
- Here, a large amount of buying demand appeared, stopping the decline.
- From this bottom area, ETH has surged more than 15% to return to the current price area of $2,002.07.
🔶 Observing on the M15 time frame, the short-term bullish structure is being reinforced:
- The price has now risen above both important moving averages, MA. This indicates that the short-term trend has shifted from Bearish to Bullish.
- The MA25 is trending to cross above the MA99, which is a supportive signal for continuing the upward momentum.
🔷 The fact that ETH closed above $2,000 not only has technical significance but also serves as a very strong psychological boost for the market.
- It negates the Bears' efforts to push the price down and confirms the $1,7xx area as the Value Zone that large players are protecting.
Ethereum is striving to shake off selling pressure. If it maintains above the $2,000 mark, the next target will be the resistance area of $2,100 - $2,150.
This article is for reference only and is not investment advice. Please read and consider carefully before making any decisions.