Ethereum is trading at $1,840, showing slight gains, with hopes of breaking $2,000 hingeing on overcoming resistance levels. There are nearly 4 million short-term holders, which analysts suggest could signal positive momentum for a bullish trend. Technical indicators show potential for significant price surges if the market maintains upward momentum.
Ethereum is currently trading at about $1,840, showing a modest uptick of 0.2%. The trading volume remains quite healthy, sitting at $7.63 billion. Yet, analysts note some concerns as the price hasn’t fluctuated much over the last month, staying below 2%. Investors are definitely curious to see if Ethereum can keep its head above the key $1,800 mark.
Some analysts believe Ethereum could potentially hit the $2,000 target if it manages to break past the stiff resistance it faces at $1,900. MiloX Trading, for instance, raised the possibility that if the bullish momentum continues, the price could reach this milestone within weeks. Ethereum seems to be consolidating above its 50-day EMA, which is a positive sign, while the RSI trend indicates upward movement. Still, it must navigate strong resistance at both $1,900 and $2,000 for any significant rally to stick.
Bearish pressure from the 100 and 200-day EMAs could keep Ethereum’s price chained down for now. However, support levels at $1,750 and $1,600 provide a safety net if the price wrestles with resistance. Traders are now on high alert to see if Ethereum can indeed break these barriers and possibly regain that elusive $2,000 range shortly.
Expectations are quite high amongst technical analysts, who are forecasting a significant surge, speculating a possible 120% increase toward the $2,500 mark. If this upward movement continues, it might be just the beginning of an even larger price growth, with some drafting scenarios where Ethereum could eventually approach $4,000 or higher. Such shifts could undoubtedly signal a long-lasting bullish trend.
On the other hand, there’s noteworthy activity among Ethereum’s short-term holders, now close to the 4 million mark. Analyst Burak Kesmeci suggests this uptick might indicate a budding long-term uptrend. Generally, short-term holders, those holding ETH for fewer than 155 days, often react strongly to market changes. Kesmeci points to historical instances where surpassing the 4 million threshold led to substantial price surges, echoing patterns from 2022 and 2024.
At present, the number of short-term holders stands at roughly 3.92 million. If this figure surpasses 4 million, it may be a strong sign of bullish momentum, pushing Ethereum into a more prolonged uptrend. Meanwhile, faith remains strong among long-term holders as well, with approximately 104.24 million continuing to back Ethereum’s future pricing trajectory. This crowd bolstering long-term beliefs adds more hope for what lies ahead for Ethereum.
As things stand, the price of Ethereum is eyeing a potential breakout. The question on everyone’s minds is whether the cryptocurrency will land at $1,900 in the near future, creating momentum for an upward journey.
