Ethereum has been struggling lately with the monthly chart showing that the coin has dipped steeply, dropping over 27%. While the coin made several attempts to reclaim the $2,000 price level following the recent dip, the move has been unsuccessful for several days. However, bulls have managed to push Ethereum past this mark according to recent reports.
The move can be attributed to aggressive whale accumulation. Additionally, analysts have predicted that Ethereum could surge further after reclaiming the $2K level. However, buying must get stronger for a significant pump to happen.
JUST IN: $ETH reclaims $2,000
— Watcher.Guru (@WatcherGuru) March 19, 2025
Ethereum (ETH) Price Performance
Data on Coinmarketcap shows that Ethereum is trading at $2,026.70 with a 7.08% surge on the day. The current price performance shows that investors are regaining confidence after several weeks of price struggles.
The trading volume of ETH has also surged on the day. Ethereum has recorded $13.45 billion in trading volume over the last 24 hours. This trading volume shows a 26.96% surge since the last trading session.
Additionally, the market capitalization of ETH stands at $244.47 billion. There are 120.62 million Ethereum coins in circulation at the moment.
Technical Outlook of ETH and Key Price Levels To Watch
According to the 4-hour chart on TradingView, the key price levels to watch for Ethereum include the resistance at $2,230.86. With the coin surging, a breach of this level will confirm a bullish rally which could push Ethereum towards the next resistance at $2,522.44.
However, if ETH fails to hold the current price level, it could retrace towards downwards and wipe out the recent gains. Ethereum has a short-term support at $1,845.07. In case the price drops below this level, it could result in a bearish run towards $1,571.42 hence resulting in further turmoil for this crypto.
As per the technical indicators of ETH, the coin has an RSI value of 68.57. With the RSI just below the oversold level at 70, the trajectory of Ethereum might change to a downward trend. This would lead to a short-term correction in case buying slows down.
The MACD indicator of ETH confirms bullish momentum. This can be confirmed by the MACD (blue) line is above the signal (orange) line). Additionally, the histogram of Ethereum is positive with the bars depicting building strength. If the histogram bars get stronger, this could signify further upside momentum.
If Ethereum turns the psychological $2,000 level into support with increased buying by investors, the price might continue rising. However, failure to do so could lead to a price drop. The market will monitor the technical indicators of ETH moving forward to confirm bullish momentum or a potential reversal.
Ethereum Whales Are Accumulating ‘Aggressively’
The recent surge in the price of Ethereum can be attributed to huge whale accumulations. Recently, ETH whales have been accumulating this coin aggressively according to analysis by Coinvo, a crypto trader and analyst.
Looking at the chart above, the balance by holder value shows that Ethereum whales have been buying the recent dip. Whales buying often signifies increasing investor confidence which could in turn push the price higher.
According to crypto analyst, Crypto Patel, the next price target for Ethereum is at $8,000-$10,000. While this level is achievable, it might take a while before we see ETH at this level. The market will thus monitor ETH price performance moving forward.
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