Will Ethereum Continue to Rise Above $1,800?
Ethereum is currently trading at $1,840, up 0.2%. ETH is still trading at $7.63 billion each day, well beyond the $1,800 level. However, market watchers are concerned because the price variance over the last 30 days has stayed below 2%.
Can Ethereum Rally and Break $2,000?
If positive momentum persists, MiloX Trading has increased the likelihood that ETH will hit $2,000 in the upcoming weeks. With rising trade volume, ETH is consolidating above the 50-day EMA, and the RSI is trending upward. However, $1,900 and $2,000 are significant resistance levels, and ETH needs to break $1,900 strongly to have a long-lasting surge.
Prices should be controlled by the negative pressure of the 100 and 200-day EMAs. If the rally has difficulties, protection is provided by support levels at $1,750 and $1,600. The ability of ETH to overcome these resistance levels and maybe reclaim the $2,000 zone soonthe near future is being eagerly watched by traders.
According to technical analysts, Ethereum’s price is expected to reach $2,500 after a 120% increase. If the increase keeps up, it would pave the way for an even longer-term price surge, with ETH expected to reach $4,000 or higher. A strong, sustained positive trend for the token would be signaled by such an activity.
Short-Term Holders Close to the 4 Million Mark
Analyst Burak Kesmeci suggested that Ethereum may be entering a prolonged uptrend based on the growing activity of short-term holders. These traders, who typically hold ETH for less than 155 days, are highly sensitive to market trends.
According to Kesmeci, ETH often experiences significant price spikes in 2022 and 2024 when the number of short-term holders exceeds 4 million. Even if the current short-term holder count is 3.92 million, a rise from above 4 million could indicate enough bullish force to
ETH into a sustained, long-term upward trajectory. 104.24 million LTHs show that Ethereum’s long-term investors are confident in the market and its price prospects. Long-term price appreciation is also supported by the growing number of long-term holders, which raises optimism about Ethereum’s future course.
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