Abandoned, criticized, almost forgotten … Ethereum has just remembered that he had not said his last word. In the space of two weeks, the ETH jumped 30 %, exceeding $ 1,800. Between figure of reversal, falling costs and renewed overall interest, the machine is relaunched. How far will it go?
In short
- Ethereum bounces 30 % in two weeks, crossing the $ 1,800 mark.
- An inverted “Head & Shoulders” figure signals a bullish reversal.
- Transaction costs dropped by 90 %, making the network more attractive.
- The appointment of Paul Atkins to the dry strengthens market confidence.
- Ethereum could target the $ 3,360 by the end of May, subject to favorable technical conditions.
Ethereum rebounds strongly after a period of decline
After several weeks in the shadows, Ethereum (ETH) rebounds spectacularly, with an increase of almost 15 % in 24 hours. On April 23, ETH's price again crossed the $ 1,800 mark, after a low point at $ 1,400 recorded on April 9. This 30 % rebound in two weeks therefore gives hope to investors.
While the Crypto market has a global capitalization of $ 3,000 billion, Ethereum outperforms Bitcoin (+6 %) and the entire market (+5 %). Some analysts, such as ashcrypto, go so far Compare the current configuration From Ethereum to that of Bitcoin at the end of 2024, announcing a possible explosion of the price.
Technical and fundamental catalysts aligned for ETH
According to Markus Thielen (10x Research), this rebound is linked to a ” Squeeze shorts »On a highly lower market. He also specifies that Ethereum was occurred on the daily and weekly units, which promotes a technical reversal. But this start is not only based on graphic analysis.
Paul Atkins' confirmation at the head of the American Sec has improved the general climate, and a next upgrade of the Ethereum network could also support the increase. In addition, transaction costs on Ethereum have dropped by 90 % in one year, making the network much more attractive for users and decentralized application developers.
Ethereum at 3,360 dollars in May?
An inverse figure Head & Shoulders (inverted head-toblin shoulder), well known as a reversal figure, had anticipated the current rebound of Ethereum. This configuration, which is formed after a consolidation phase, indicates a change of trend. In the case of Ethereum, the left shoulder, the lower head and the right shoulder are clearly identifiable, with an acting neck line as key resistance.
If the break is confirmed, ETH will have to cross several levels: first 2,160 dollars, then 2,858 dollars, area of strong selling pressure. The next major objective could then be 3,360 dollars, a crucial ancient. With an increase of 30 % in two weeks, Ethereum could achieve this goal by mid-May at the end of May, if the current rate is maintained. However, this scenario depends on the crossing of key resistance and maintaining the bullish momentum.
Ethereum's return in force therefore marks a possible turning point in the current cycle of the Crypto market. It remains to be seen if this recovery will be duration or if it is a simple technical start, a few days before the Pectra update.
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