The price of Ethereum (ETH), a major market altcoin, has regained a psychological level of $1,800. This price recovery follows recent enthusiasm in the broader crypto market. As a result, ETH Investors and analysts are now questioning whether the selling trend has ended.
ETH restores stability
Recent data From Coinmarketcap, it shows that Ethereum jumped from a low of $1,500 to $1,800. This sharp rise looks like a bullish rally and marks the end of the latest Ethereum sale trend. Within the past seven days, ETH prices have risen by more than 10.6%.
Recently Ethereum Experienced It is one of the biggest daily volume spikes in recent memory, and the price violates major resistance levels. Typically, such moves encourage traders and suggest a breakout or a trend reversal.
ETH traded at $1,805 at press, a slight 0.25% drop in the last 24 hours. Daily trading volumes increased by 6.69%, updating investor interest.
Is the pressure to sell Ethereum?
Market observers are hoping for a more bullish gathering, but Ethereum is still face Technical challenges. First, ETH prices have consistently faced a rejection of between $1,850 and $1,900. Altcoin faces sales pressure every time they try to overcome this level.
Ethereum is also trapped below significant averages, such as the simple moving average (SMA) of 20 and 50 weeks. The current price at $1,805 is well below both the $2,850 50-week SMA and the $2,560 20-week SMA.
Historically, these below average price cuts have continued bearish trends and make sustained upward movements much more difficult. So, ETH remains stuck at current levels or even drops further, but there is no dramatic change.
However, Ethereum’s breakouts, over $1,800, represent not just bounces, but rather a major change in the asset’s chart structure. This breakout is accompanied by an increase in volume, indicating that the bull is acting decisively.
