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The abandoned, criticized, almost forgotten … Ethereum just remembered that he did not say his last word. Within two weeks, ETH jumped 30 %and exceeded $ 1,800. Between the character of the reversal, the falling costs and the renewed total interest, the machine will be re -launched. How far will it go?
In short
- Ethereum reflects 30 % in two weeks and exceeds a mark of $ 1,800.
- The inverted figure of the “head and shoulders” signals the bull conversion.
- Transaction costs dropped by 90 %, so a more attractive network.
- The appointment of Paul Atkinsa to Suchá strengthens confidence in the market.
- Ethereum could focus on $ 3,360 by the end of May, subject to favorable technical conditions.
Ethereum will rebound strongly after a period of bankruptcy
After a few weeks in the shade, Ethereum (ETH) is spectacularly reflected, with an increase of almost 15 % in 24 hours. April 23 The price of ETH exceeded $ 1,800 again, after a low point to $ 1,400 recorded 9 April. Therefore, this 30 % bounce in two weeks gives hope to investors.
While the Krypto market has a global capitalization of $ 3,000 billion, Ethereum exceeds bitcoins (+6 %) and the whole market (+5 %). Some analysts, such as Ashcrypto, go so far that at the end of 2024 they compare the current Ethereum configuration with the Bitcoins configuration, which announces the possible explosion of the price.
Technical and basic catalysts aligned for ETH
According to Markus Thielen (10x Research), this jump is associated with ” Shorts »On the highly lower market. It also specifies that Ethereum has occurred on daily and weekly units that support technical conversion. However, this beginning is not only based on graphic analysis.
The confirmation of Paul Atkins at the head of American Sec has improved the general climate, and further upgrading the Ethereum network could also support an increase. In addition, Ethereum transaction costs have fallen by 90 % in one year, so the network was much more attractive to users and decentralized application developers.
Ethereum for $ 360 in May?
The inverse figure and shoulders (inverted head-tobin arm), known as the conversion of the figure, expected the current reflection of Ethereum. This configuration, which is created after the consolidation phase, indicates a change in trend. In the case of Ethereum, the left shoulder, lower head and right shoulder are clearly identifiable, with a key line as a key resistance.
If the break is confirmed, ETH will have to exceed several levels: the first $ 2,160, then $ 2,858, the area of strong sales pressure. Another main goal could be $ 3,360, decisive. 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 transition of key resistance and maintaining bull momentum.
The return of the Ethereum in force thus means a possible turning point in the current cycle of the market crypto. It remains to find out whether this recovery will take or whether it is a simple technical start, a few days before the update of Pectra.
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The world is evolving and adaptation is the best weapon that survives in this undulating universe. I am interested in everything about blockchain and its derivatives. To share my experience and promote an area that fascinates me, nothing better than writing informative and relaxed articles simultaneously.
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.