#PowellRemarks Ethereum Defies Market Turbulence: Can $1,800 Support Propel ETH to $2,069?"

Ethereum (ETH) has demonstrated notable resilience amid global market volatility, maintaining its position above the critical $1,800 level despite headwinds from Federal Reserve Chair Jerome Powell’s hawkish remarks and geopolitical tensions.

Over the weekend, ETH traded steadily above $1,800, even as global stock markets and precious metals faced sharp declines following former President Trump’s tariff announcements.

The S&P 500 lost 6% in two days, while gold and silver dropped 2.5% and 7.1%, respectively.

In contrast, Ethereum and other major cryptocurrencies remained relatively stable, reinforcing their appeal as alternative assets during uncertain times.

ETH’s ability to hold $1,800 comes after a brief dip to $1,760, with bulls quickly stepping in to defend the key support level.

This stability is significant, given Ethereum’s underperformance compared to Bitcoin (BTC), XRP, and Solana (SOL) in recent months.

While BTC saw a 27% correction from its peak, ETH plummeted nearly 55% during the same period.

However, historical trends suggest ETH could rebound strongly if broader crypto sentiment improves.

During the 2020 COVID-19 market crash, Ethereum surged 460%, outperforming Bitcoin.

Looking ahead, the upcoming Pectra mainnet upgrade on May 7 could serve as a catalyst for ETH.

Technical analysis shows ETH is testing a descending trendline resistance dating back to March 24.

A breakout above this level could reignite bullish momentum, potentially targeting the $2,069 resistance.

Conversely, failure to hold $1,800 may invite further downside, with traders closely monitoring futures market activity.

Coinglass data reveals $43.24 million in ETH futures liquidations over 24 hours, split between longs ($20.84M) and shorts ($22.41M).