Ethereum Price Rebound: Two Supply Zones Breakout To $1,800

While Ethereum's price is falling, others remain positive on the second-largest cryptocurrency by market size. One of them is pseudonymous crypto expert NotWojak, who posted a bullish Ethereum price forecast on TradingView against market opinion.

Bearish Ethereum Price Downtrend Ending

Ethereum remains in a downturn. With two supply zones coming ahead, the crypto expert thinks this may stop shortly. Multiple liquidity sweeps over important levels have pushed Ethereum to lower lows. However, this might indicate a cryptocurrency turnaround and become bullish shortly.

Analysts see two supply zones at $1,425 and $1,600. The last retracement mitigated $1,425, they said. Only $1,600 remains unmitigated. If an upswing begins, this level might become resistance.

The crypto expert predicts a bottom before $1,350 despite sellers prevailing and heavy volumes. This level may be support and start the breakout.

The analyst set a high $1,835 goal for this significant breakthrough 20% above the present level. If resistances break easily, this might lead to further upside.

ETH whales have been active, which might suggest significant investors are behind the selling that has collapsed the price. As Ethernet fell below $1,500 on April 9, large trades soared from $4.8 billion to $6.48 billion.

The average transaction size increased from $4,048 to $5,415. The cryptocurrency's increasing selling may be due to investors shifting more coins at once. If this continues, ETH may drop further.

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