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ethereum (eth) is quoted once again above the mark of $ 2,000 after several days of struggle, offering a ray of hope for investors looking for a recovery. The second largest cryptocurrency has faced intense sales pressure in recent weeks, losing more than 38% of its value since the end of February. The panic spread through the market when eth broke below the key level of $ 2,000 and then fell below $ 1,800, a movement that indicated weakness and increased the fears of a deeper correction.
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Despite volatility, the feeling of the market is beginning to change. Some investors now believe that the worst can be behind ethereum, and a slow but constant recovery could be on the horizon. Supporting this narrative, the Glassnode chain data reveal that ethereum has recovered its price made at $ 2,040, a level that reflects the average price to which all eth in circulation moved for the last time.
This recovery of the price made is often considered a subtle but important bullish signal. It suggests that, on average, the holders can get profits again, which can help reduce sales pressure and rebuild confidence in the market. For now, ethereum's capacity to stay above $ 2,000 will be key to confirm a broader trend reversal.
ethereum faces a crucial moment as bulls aim to confirm recovery
ethereum is beginning to show signs of life after weeks of uncertainty, but a decisive movement is still needed to change the feeling of the market. The level of $ 2,000, recently recovered, now acts as the key battlefield for bulls trying to light a significant recovery. As speculation develops around whether ethereum will continue with a higher trend or return to a broader correction, the price action remains undecided. Without a strong conviction of buyers, the current rebound can fade quickly.
To maintain any rising impulse, bulls must defend the level of $ 2,000 with force and consistency. A failure to maintain this support could invite the renewed sales pressure and invalidate the first signs of recovery. For now, the price is presented in a critical range without a confirmed trend in any direction.
The best Ali Martínez analyst shared an important <a target="_blank" href="https://x.com/ali_charts/status/1904633889802641803″ target=”_blank” rel=”nofollow”>Signal in the chain in xNoting that ethereum has successfully recovered its price made at $ 2,040. This level reflects the average price to which eth moved for the last time in the chain already serves as a pivot point for the feeling of the market. Martínez also pointed out $ 2,300 as the next significant resistance, with price bands that suggest a strong sales pressure at that level.
Claiming $ 2,300 would mark a great advance technical and potentially confirm a change in the trend. Until then, ethereum remains in a fragile position, trapped between renewed optimism and persistent caution. Bulls must intervene with volume and monitoring to convert this early bouncing into a full recovery rally.
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Technical details: price struggles below the key averages
ethereum (eth) is currently traded at $ 2,070, around the crucial support level of $ 2,000. Despite the recent attempts to recover strength, eth remains 5% below the 200 -hour mobile average (MA) and 200 exponential mobile (EMA): a sign that the impulse is still inclined in favor of the bears. These technical indicators often act as dynamic resistance, and until the bulls recover them, the path to recovery remains uncertain.
For ethereum to initiate a significant upward trend, it is essential to recover the level of $ 2,200. A rupture above this area would not only restore the short -term bullish feeling, but also confirm a possible reversal of the recent bearish trend. However, if eth continues to fight below mobile averages and does not gain traction above $ 2,000, the risk of greater inconvenience increases significantly.
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A breakdown below $ 2,000 could trigger a more clear correction, with the next great support at the level of $ 1,800, an area that previously acted as an axis during the sale of February. As market feeling hangs in balance, bulls must act quickly to defend key support and recover control of price action. Otherwise, ethereum could face another leg in the next sessions.
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