Ethereum price predictions (ETH) after the thrust above $ 2,000

TL;

• Industry participants suggest that the $ 2K ethereum rebound could mark the beginning of an important upward trend, and some predict an increase in the new maximums of all time exceeding $ 8,000 in the coming months.

• Despite the bullish impulse, the eth RSI increase and the increase in exchange inputs indicate a potential sales pressure, insinuating that another correction could be on the horizon.

New bull in incoming?

The second largest cryptocurrency in Terms of Market capitalization has been one of the great disappointments of Toro's last race.

The price briefly increased more than $ 4,000 in December last year and has been in a massive decline since then. Early this month, eth collapsed below $ 1,800 for the first time since October 2023.

The pain for the bulls continued since the price remained below $ 2,000 in the last week more or less. However, several hours ago, the assessment finally recovered the psychological level, registering an increase of 7% on a daily scale.

This Speculation triggered numerous observers of the market that the bearish trend could soon be replaced for a period of severe resurgence.

User x Jelle <a target="_blank" class="editor-rtfLink" href="https://x.com/CryptoJelleNL/status/1902326809598795860″ target=”_blank” rel=”noopener” data-wpel-link=”external”>reclaimed that eth has bounced “just where it matters” with the key support of $ 2K. The analyst suggested that the price now has the potential for Convert this into “a solid recovery or a new bearish test.”

Rekt Capital also pointed out price revival. They <a target="_blank" class="editor-rtfLink" href="https://x.com/rektcapital/status/1902326393481896118″ target=”_blank” rel=”noopener” data-wpel-link=”external”>fictional A possible “strong reaction here” could feed a rally to the macro range of $ 2,196- $ 3,900.

“If eth does this before the monthly closing of March, then all this inconvenience of less than $ 2200 would end as a downward wick,” they predicted.

Last But not leastcrypto Patel <a target="_blank" class="editor-rtfLink" href="https://x.com/CryptoPatel/status/1902342733496541302″ target=”_blank” rel=”noopener” data-wpel-link=”external”>described The area of ​​less than $ 2,000 as “a mass purchase opportunity for those looking for long -term profits.” They also predicted that eth could get to A new Altism of more than $ 8,000 in the following months.

Not so fast…

Despite the bullish projections after the rally above $ 2K, some key factors indicate that it is a new setback. also possible.

eth (RSI) Relative Force Index (RSI)For example, has <a target="_blank" class="editor-rtfLink" href="https://www.cryptowaves.app/relative-strength-index/eth” target=”_blank” rel=”noopener” data-wpel-link=”external”>climbing to the bassist area of ​​70. The technical analysis tool measures the speed and change of price movements, and readings above this level suggest that the asset could be overwhest and directed towards a potential correction.

ethereum's Exchange Netflow must also be mentioned. During the past week (according to Cryptoquant), entries have <a target="_blank" class="editor-rtfLink" href="https://cryptoquant.com/asset/eth/chart/exchange-flows/exchange-netflow-total?exchange=spot_exchange&window=DAY&sma=0&ema=0&priceScale=log&metricScale=linear&chartStyle=column” target=”_blank” rel=”noopener” data-wpel-link=”external”>surpassed Departures, pointing out a potential change of self -ocustody methods towards centralized exchanges. ThisIn turn, the immediate sales pressure increases.

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