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In a publication x shared today, the acclaimed cryptocurrency analyst Ali Martínez identified two key levels of resistance that ethereum (eth) must claim to confirm a reversal of bullish trends. In addition, eth shows signs of upward divergence in the daily table, which increases optimism among the holders that a demonstration may be closer to what is expected.
ethereum must exceed these levels for more rise
Unlike rival cryptocurrencies such as bitcoin (btc), Solana (Sol) and XRP, the recent eth price action has disappointed most of its holders. The second largest cryptocurrency for market capitalization has dropped 49.2% during the past year, in marked contrast with the gain of 18.5% of btc during the same period.
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Sharing the following daily table, Martínez highlighted two critical levels of resistance that eth must overcome to reverse its price trajectory. The analyst declared:
ethereum $ eth needs to claim $ 2,100, and more decisively, $ 2,300, to confirm a reversal of bullish trends. These are the levels to see!
To remember, eth last quoted at the level of $ 2,100 earlier this month on March 9. Interestingly, the digital asset also submerged up to $ 1,754 on the same day, its lowest price in more than a year.
After recovering $ 2,100, eth must exceed the most significant resistance level of $ 2,300. A clear rupture above $ 2,300 could indicate a renewed bullish impulse.
Meanwhile, Altcoin @altcoinrokie analyst shared a bearish prognosis for ethereum, predicting that eth will submerge $ 1,200 in June 2025 before reaching new historical maximum (ATHS).
eth that shows signs of bullish divergence
While these analyzes suggest short -term short challenges for eth, cryptographic merchant Merlijn, trade, provided a more optimistic perspective. The analyst shared the following eth Daily Cover, noting that the asset is showing bull divergence.
For uninitiated, the RSI is an impulse indicator that helps merchants and investors to determine when the underlying asset can be exaggerated or of overload. RSI's uprisage divergence occurs when the RSI minimal form higher, while the price forms lower, indicating that weakening the sales pressure and a possible investment of upward trend.
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The merchant also pointed out that although the eth price continues to make lower minimums, its daily RSI is forming a contrasting trend. Merlijn also shared a two -week eth price table, highlighting how ethereum has historically been bounced From a critical support level since the beginning of 2024, often publishing significant yields after each rebound.
That said, the increase in eth reserves in encryption exchanges stay A concern, potentially that extends the suppression of eth prices. At the time of publication, eth is traded at $ 1,840, 2.1% more in the last 24 hours.
Outstanding image created with UNSPLASH, x and TrainingView.com graphics
(Tagstotranslate) Altcoin
