$ETH

The price of Ether reached a new range high of $1,860 on April 28, its highest value since April 2.

Several analysts argue that the price of ETH needs to stay above $1,800 to increase the chances of further upward movement.

“Once ETH confirms this 4-hour close above the resistance ($1,800), Ether and the altcoins will finally have their moment to shine,” trader Kiran Gadakh said in a post on X on April 29.

“I feel it in my bones, $2,000 for ETH will come quickly.”

Popular analyst Nebraskangooner expressed that if ETH faces high-volume rejection from the $1,800 level, it could drop to test support levels around $1,600.

Several data metrics suggest that Ether is well positioned to break towards $2,000 in the coming days or weeks.

One factor supporting the bullish case for Ether is the resurgent institutional demand, reflected by significant inflows into spot Ethereum exchange-traded funds (ETFs).