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Ethereum and the wider market of cryptography experienced a small but notable pump yesterday, reviving the hopes of a potential trend reversal after weeks of sustained sales pressure. While market uncertainty is intensifying, largely driven by global economic tensions and geopolitical tensions between the United States and China, investors are watching closely with the signs of an escape.
Despite the opposite winds, analysts are starting to change their tone. Some believe that the worst can be late for Ethereum and that a strong upward movement could be brewing. One of the most vocal of them is the best analyst Carl Ruefelt, who shared a daring perspective, suggesting that Ethereum “could become absolutely parabolic from here”. His analysis suggests that the ETH is ready to burst out a daily descending trend line, which could serve as a key technical signal indicating a change of VA in favor of the bulls.
As Ethereum is above the levels of critical support and centimeters closer to a potential trend reversal, traders and investors are now ensuring follow-up confirmation. If volume and feeling continue to build, it could be the start of an important rally – which can reset expectations for the rest of the cycle.
Global tensions and macroeconomic uncertainty continue to weigh heavily on the feeling of investors, the current trade war between the United States and China sending shock via high-risk actions and assets. In the middle of this fragile backdrop, Ethereum managed to find a solid level of support around $ 1,500 and is now trying to recover higher grounds. After weeks of sales pressure that have erased upward expectations for the year, ETH displays the first signs of recovery.
The current price structure of Ethereum has become a focal point for market players. The recent rebound of $ 1,500 marks a lower potential, a technical configuration often associated with trend reversals. If ETH can succeed in exceeding the brand of $ 1,700 and breaking the downward trend line, this could trigger a renewed momentum for bulls.
Runefelt shared an optimistic view, declaring that Ethereum could go up very quickly from here. According to its analysis, the next key price target is at $ 3,000, assuming a confirmed break above short-term resistance levels.
Despite continuous global risks, the Ethereum network remains fundamentally strong, with increasing adoption in the active and real assets. If the break is materialized and the broader feeling of the market stabilizes, ETH could lead the next step in the resumption of cryptography.
Ethereum is currently negotiated at $ 1,630 after another unsuccessful attempt to exceed the resistance area from $ 1,700 to $ 1,800. This price range has acted as a major obstacle in recent weeks, limiting the bullish momentum and keeping ETH locked up in a wider downward trend. The bulls must recover the local summit at $ 1,691, set last week, to report a change in potential structure and confirm the start of a recovery rally.
A decisive decision above $ 1,700 could open the door to a level of $ 2,000, which would mark an important psychological and technical step. However, the lack of monitoring of recent upward attempts reflects continuous uncertainty in cryptographic markets, largely caused by macroeconomic tensions and a feeling of risk.
If Ethereum fails to gain strength over the current levels, a retracement around $ 1,500 is likely, with the possibility of a new drop if the sales pressure is intensifying. This level has served as a critical support zone in recent weeks. Without a convincing escape, the ETH remains vulnerable to renewed weakness and deeper corrections. All eyes are now on the question of whether the bulls can take enough momentum to return the resistance to support and avoid another leg down.
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(Tagstotranslate) ETH