The price of Ethereum (ETH) finally overcame the barrier in the amount of 2 thousand dollars. The United States, bargaining at about $ 2300 after passing critical resistance. This increases the hope that it can rise to $ 3,000 and $ 4,000.
Sharp Move began after the decision of the Federal Open Market Committee to keep the interest rates stable on May 7 led to an everyday risky digital assets.
Due to the fact that critical levels for cleaning the price of altcoin and metrics in the chain flash bull signals, the scene is set for significant growth movement.
ET -prison breaks the key 1860 USS and $ 2300 ResistanceWith
According to Ali Martinez, Ethereum Price recently escaped above the resistance of 1860 US dollars, a critical zone where 4.54 million wallets have 5.58 million ETH. The best altcoin finally escaped from an important supply wall, which limited its success over the past few weeks, which notes mass changes in market moods.
Since the price has recovered above this level and is currently holding a strong one, Ethereum can rally in the long run with potential targets for $ 3,000 and 4000.
In addition, Crypto Analyst Scomesharks emphasized that the price of ETH also cleared its second diagonal resistance, confirming a broader change in the trend. The diagram showed that ETH is constantly increasing after several purchase signals along the lower trend line.
With the following main resistance zones of $ 3,000 and $ 4,000, traders consider a potential multi -month rally if the current impulse remains.
Bull divergence and data support during the chain
It is noteworthy that Javon Marks noted a serious bull divergence in the price table for Ethereum, a classic model of a change that signals the upcoming significant price restoration.
According to his analysis, ETH had a double bottom with an indicators of the pulse, such as the relative force (RSI) index, which begins to grow, which indicates a bull discrepancy.
This technical agreement, as a rule, was a sign of a new trend starting with price purposes, much higher than the current price of ETH.
Meanwhile, the data in the chain also supported this bull forecast. According to recent reports, the open interest of Ethereum increased by 2.65% to about 21.35 billion dollars over the past 24 hours, since the new capital worth $ 400 million gained futures. An increase in open interest meant that traders positioned for a greater step.
The derivatives market signals strong bull moods
The derivatives market also reflects a strong bull bumpy for Ethereum. Binance Eth/USDT LONG/Short Catio is 2.1486, while OKX traders show an even more aggressive position with a ratio of 2.26. This means that more than twice as many traders for a long time than short ones, which indicates strong faith in further growth.
For leading traders on the binance, the ratio of long/short positions increased to 2.8153, which indicates increased confidence in the increase in the Ethereum slide. This is consistent with the mood of the market, as traders create for further growth. Long -term exposure and an increase in open interest show that the market expects significant price movement in the coming weeks.
In addition, liquidation data also support this bull tendency. Over the past 12 hours, ETH shorts accounted for $ 14.33 million with a long elimination and $ 6.07 million. USA at a short elimination of ETH. This showed that Ethereum traders who made rates against price restoration were replaced.
ET Price eyes $ 4,000 as key levels for observing
It is noteworthy that Ethereum Price is trying to trade more than 1900 dollars, since the next large line of resistance is $ 1950, and then the level of $ 2000.
Nevertheless, it is expected that the price of Ethereum (ETH) will continue its recent impulse to avoid a rollback in the support zone of 1860 dollars, which now has turned over from resistance.
In the near future, with a pause of the Fed as a catalyst, this can only be the beginning of Ethereum recovery. As the technical indicators improve, and market moods become bulls, Altcoin prospects are strengthened, which implies a potential breakthrough in the coming months.
