- Ethereum’s breakout above $1750 could signal a potential bullish phase with targets at $2150 and $2820.
- ETHBTC needs to break resistance at 0.02027 BTC to gain upward momentum and boost altcoin strength.
- The 4-hour 200-period moving averages are hinting at a bearish trajectory, requiring a decisive break to be bullish-confirmed.
Ethereum ($ETH) has been extremely active price-wise during the last few days, potentially signifying a sentiment change. With Ethereum looking to follow through on last week’s resilience, its price activity with pivotal support and resistance levels is under hot focus.
Ethereum Breaking Above Key Resistance Levels
Ethereum’s breakout above the $1750 resistance zone has sparked optimism for continued upside potential. The cryptocurrency’s price recently consolidated in a narrow range below $1750 but made a decisive move higher. This breakout suggests an attempt to break free from prior bearish consolidation.
Source: Sjuul AltCryptoGems
According to Sjuul from AltCryptoGems above, this breakout may signal the start of a bullish phase. He highlighted that Ethereum could target the next resistance levels at $2150 and $2820. Sjuul emphasized that the shift from the red zone (prior consolidation) to a green zone suggests a bullish reversal.
Ethereum’s price action has shown increasing buying momentum. This is particularly evident after breaking above the $1750 level. In Sjuul’s findings, this upward movement is a key indicator of a possible continuation to higher price points.
ETHBTC: Price Movement and Resistance at 0.02027 BTC
Ethereum against Bitcoin ($ETHBTC) is ranging in a tight horizontal manner. The graph shows that ETHBTC experienced a V-shaped reversal with strong buying pressure at the support level of 0.01856 BTC. The price is now oscillating near the middle of this range, around 0.01897 BTC.
Daan Crypto Trades observed that Ethereum needs to overcome key resistance at 0.02027 BTC. Breaking this level could signal further bullish momentum. Daan pointed out that such a move would likely strengthen Ethereum’s dominance and lift the broader altcoin market.
Source: Daan Crypto Trades
However, the general trend in ETHBTC is a downtrend. Daan noted that the 4-hour 200-period moving averages confirm this bearish bias. Unless Ethereum breaks above the 0.02027 BTC resistance level, lower supports are to be tested.
Both analysts presented views of Ethereum’s near-term technical outlook. Sjuul’s view analyzed Ethereum’s USD pair, while Daan’s ETHBTC analysis considered the big altcoin picture. Price action at these pivotal levels will most likely determine Ethereum’s next large move.
