Ethereum (ETH) has seen a significant 8% rebound following a sharp downtrend last week, as the broader crypto market experiences a slight recovery. Over the past 24 hours, ETH rose by 5%, recovering from the lows of last week, which saw a 15% drop amidst increased market tensions.
The downturn was influenced by multiple factors, including uncertainties stemming from former President Trump’s tariff policies, a dip in investor confidence, and the absence of any major announcements to drive the market forward. However, the market has shown signs of recovery with Bitcoin (BTC) rising to $85,000 and other cryptocurrencies following suit.
At the time of writing, ETH is trading at approximately $1,908, marking a 3.7% increase in the last 24 hours. It hit a high of $1,922 today, rebounding 5% from its earlier low of $1,819. The cryptocurrency’s 24-hour trading volume stands at $15.11 billion, and its market capitalization is $230.27 billion.
What’s Next for ETH: Reaching $2,100 or Back to $1,800?
While ETH has shown strong bullish momentum, key resistance levels will be crucial in determining its next move. The $1,950–$1,970 range is expected to be a tough barrier, where sellers could step in and attempt to cap any further gains. A successful breakout above this level could pave the way for ETH to rally towards $2,050 and potentially even $2,100 in the near term.
On the downside, ETH must maintain support above $1,880 to keep its bullish structure intact. A stronger sell-off could lead to a retest of $1,850 or even revisit last week’s low around the $1,700 range.
The price of ETH will largely depend on the overall market sentiment, Bitcoin’s stability above $85,000, and growing anticipation for the upcoming Pectra upgrade. Investor confidence will also play a key role in determining ETH’s next move. A decisive move above $1,970 could signal a sustained upward trend, while a rejection at this level may lead to further downside risks.
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