Key Takeaways
- Ethereum’s price struggles below 50-day and 200-day EMAs despite a strong price rebound.
- If the price of ETH breaks above $2,000 to $2,500, it could rally to new highs of $3,000 to $4,000.
- Crypto experts speculate a monthly breakout for ETH towards a new high following a bullish price pattern.
The price of Ethereum crashed from its high of $4,500 towards a low of $1,450, leading to wild sparks of a potential price drop towards $1,000 following market uncertainty due to the U.S. tariff hike, creating economic tension for the financial market.
Trump’s 90-day tariff pause gave the market the needed boost for a price rebound. The price of Bitcoin (BTC) showed great strength, rallying from a region of $74,500 to a high of $86,000. Ethereum bounced from $1,450 to a high of $1,680, continuing to demonstrate strength.
Despite the price of Ethereum (ETH) trading in a range, it continues to show strength as it attempts a potential breakout above a region of $1,7000. This could see the price of ETH rally towards $2,000, acting as a key supply zone for price.
Ethereum (ETH) Market Sentiment Shift
Ethereum (ETH) started the week strong, holding above its key area of interest of $1,600, as the price continued to build strong bullish price action to break out to the upside. According to TedPillow, a crypto expert, a break and close could see the price of Ethereum rally towards its high of $2,000 in the coming days or weeks.
MerlijnTrader on X also changed his view on the current price action of ETH. Based on his analysis of the monthly timeframe, he said the market is still in a consolidation phase and expects a breakout towards a high of $3,000.
The price of Ethereum (ETH) breaking out above $2,000 will be key to a potential rally to the upside, as this region acts as a strong supply zone for its price.
Ethereum (ETH) Technical Analysis
Source – ETH 1D Price Analysis From TradingView
The price of Ethereum (ETH) has responded well around its liquidity zone of $1,400. The price rebounded towards a high of $1,600 despite trading below its 50-day and 200-day EMAs, which act as resistance for the price.
Although looking bearish in the short term, the price could rally towards $2,000. If the price breaks strongly above its key resistance of $2,000, we could see a rally for the ETH price towards $3,000 in the coming weeks.
Traders and investors will pay attention to Ethereum’s price ahead of a break above $2,000, which could lead to a new high of $2,500 or $3,000.
