The price of Ethereum (ETH) showed the first signs of recovery after bouncing from recent minimums close to $ 1,550. Investors closely monitor if ETH can break and stay above $ 2,200 to confirm a stronger bullish trend and maintain a rebound.
Ethereum finds support and breaks a key resistance
At the time of writing these lines, the price of Ethereum quoted around $ 1,801.37, after a strong rebound from the $ 1,550-1,670 $ area. This price zone has acted as a strong support, where ETH bounced several times, indicating a firm purchase interest.
Analysts have indicated the formation of a possible triple background pattern. Often indicates a change in trend.
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The price broke above the important resistance zone between $ 1,700 and $ 1,800. A daily closure above $ 1,800 could mark a change in the market structure.
The cryptanalist Ali Charts pointed out in X: “The price of Ethereum needs to ensure a daily closure above $ 1,950 to activate a purchase signal of the Superrend indicator.”
However, caution remains. Although ETH has entered the old resistance zone, a stable impulse is needed above $ 1,800 for a clearer bullish confirmation. If it does not remain above $ 1750, the price could be exposed to a new saleswoman.
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Mobile averages and whale activity suggest that it is strengthening
The technical indicators showed mixed but slightly positive signals at the close of this edition. The exponential mobile socks (EMA) in the short term of Ethereum, probably periods 9 and 21, made an upward crossing. This crossing usually causes upward price movements when backed by volume.
In addition, the activity of large transactions has caught attention. In early February and April, Ethereum prices experienced peaks of up to 16,000 large transactions per day.
After these peaks, the volume of transactions was stabilized between 4,000 and 8,000 daily transactions. The analysts interpreted this guideline as a consolidation period by the great holders.
At the beginning of April there was another notable peak of large transactions, which coincided with a short duration rebound. This trend suggested that whales could be accumulating eth at lower prices. That could provide a solid base for future movements.
Key levels of Ethereum’s price to be monitored: resistance of $ 1,950 and $ 2,200.
The next bullish objective for the price of Ethereum is around $ 1,950, followed by the $ 2,300 if the upward impulse is strengthened. According to the cryptoopeador @MarzellCrypto, “Ethereum needs to close a daily candle above the orange zone of 2,200 $ to confirm the continuation of the upward trend.”
If you do not get a closure above $ 1,800, the rebound could be delayed. In that case, the price of ETH could visit the lower supports of $ 1,700, $ 1,650 or even $ 1,650. On the other hand, exceeding $ 2,200 would probably open the road to higher resistance levels, such as $ 2,300 and $ 2,700.
The volume levels were stable without signs of aggressive sales. That supported the idea of a price consolidation rather than a strong distribution. A decisive movement above $ 2,200 could attract new buyers, which would cause an increase in volatility and possible rebound.
Short -term risks persist, since indicators set mixed signs
Despite the descent, the MacD Hourso said the bearish pressure is fading. However, the RSI index remained below the central line of 50. The price of Ethereum also quoted just below its simple mobile average of 100 hours, another critical level for the confirmation of the short -term trend.
Analysts also pointed out that a careless price action around the resistance of $ 1,750, combined with a growing sales volume, could trigger short -term weakness. The cryptanalist Nebraskangoner observed: “The fact that it has diverted over the resistance and is rejecting a growing volume makes me think that it will go back.”
If ETH fails to maintain the support level of $ 1750, operators could witness a new drop up to $ 1700 or $ 1650. Therefore, maintaining support levels and exceeding key resistances are the fundamental previous conditions for greater growth.
Therefore, the tendency of Ethereum’s price change over the next few days will be crucial for cryptocurrency. A daily closure above $ 2,200 can indicate an upward break and indicate the next rise to the levels of $ 2,300 and beyond.
