$ETH After gray weeks for Ethereum 🌧️, finally a breath of fresh air for #ETH fans! 🌬️ The second largest crypto asset in the market has jumped nearly 15% in just 24 hours 🕒, surpassing $1,800 and leaving many gasping 😮.
But that's not all...
Ethereum has outperformed Bitcoin 🟡 (6% increase) and the crypto market in general (5%) in this April rally 🌱. And yes, the total market returned to the glorious $3 trillion 💰.
This bounce comes right after ETH's dominance hit bottom on April 22, falling to 7%, a level not seen since 2019 😱. But in a textbook play, it rebounded from that support and is now positioned above 7.5% again.
What happened? Here are the catalysts:
✅️ETH was technically oversold 🧯, according to Markus Thielen from 10x Research.
✅️There is a "short squeeze" underway — bears are burning their fingers 🐻🔥.
✅️The next Ethereum update is approaching the mainnet, generating optimism in the ecosystem ⚙️.
✅️The confirmation of Paul Atkins as the new president of the SEC in the U.S. has also brought favorable winds for the overall crypto market 🌬️🇺🇸.
And as Income Sharks (crypto analyst with +640K followers on X) says:
"You can hate Ethereum all you want, but when it has a great day... the whole ecosystem rises" 🐬.
🤷🏼♀️However, not everyone is convinced:
Jeff Mei from BTSE warns that ETH is still following Bitcoin's movements and that there is no total independence in its rally 🤔.
🤔 And now what?
With a +30% since its low on April 9, many analysts believe that ETH has already hit bottom and could be gearing up for something bigger... Heading to $2,000? 🚀👀
📌 Sources: Cointelegraph, TradingView, Decrypt
🫵🏻🤔What do you think?
Is this the beginning of a new season for Ethereum or just a fleeting bounce?
👉🏻Leave it in the comments!
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See you next time!🤚🏻$ETH
