$ETH

Ethereum (ETH) has recently faced intense selling pressure, with prices briefly falling below the $2,000 mark. However, recent analyses suggest that the price of Ethereum (ETH) could experience a significant rise, with the potential to reach $2,500 in the near future.

Recovery of Ethereum (ETH) price after sharp decline

Ethereum (ETH) has gone through many ups and downs since early March, with the price steadily falling until it hit rock bottom at $1,750 on March 11. This point was the lowest since November 2023. However, after hitting the bottom, Ethereum (ETH) began to show signs of recovery and has now returned to around $1,900.

After falling to $1,750, Ethereum (ETH) is showing signs of recovery and has now returned to around $1,900. This price increase brings Ethereum (ETH) back to the descending resistance trend line, which previously was a barrier to the upward price movement during the last downtrend.

A TradingView analyst pointed out that Ethereum (ETH) is testing a critical resistance level that, if successfully broken, could open opportunities for a significant rise above $2,000. According to the analysis, a breakout above $1,885 could be an ideal entry point.

If Ethereum (ETH) manages to break the resistance, analysts estimate that the potential price target could be $2,596. However, if the bearish momentum is too strong and Ethereum (ETH) is rejected again at the resistance trend line, it is advisable to set a stop loss at $1,700 to manage risk while aiming for substantial gains.

Although the overall market sentiment remains bearish, there is still optimism among some analysts and investors who believe that Ethereum (ETH) will soon return to an upward trajectory.