Ethereum price surges above $2,000 again, is this a sign of recovery in April 2025?

Jakarta, Pintu News – Ethereum ETH->Current ETH PriceRp 0Market Cap-Trading Volume-Circulating Supply- has recently shown signs of recovery by breaking through the $2,000 price level again. After experiencing a downturn, the digital currency is starting to show significant signs of recovery. However, the question that arises is whether this is the beginning of a bullish trend or just a temporary bounce.

Ethereum Price Recovery

Ethereum (ETH) managed to form a strong base above the $1,850 level and started a recovery wave that was also followed by Bitcoin BTC->Current BTC PriceRp 0Market Cap-Trading Volume-Circulating Supply-. By successfully crossing the $1,920 and $1,950 resistance levels, Ethereum (ETH) pushed the price past the $2,000 mark. The price peak was recorded at $2,104 before a downward correction.

The price briefly dropped below the $2,080 level and touched the 23.6% Fibonacci retracement of the price increase from $1,980 to $2,104. Currently, Ethereum (ETH) is trading above $2,020 and above the 100-hour simple moving average. There is also a bullish trend line forming with support at $2,000 on the hourly chart of ETH/USD.

Also Read: Why is Bitcoin (BTC) Following the 2024 Summer Trend? Check out the Next Prediction!

Barriers and Resistance Faced

On the upside, Ethereum (ETH) seems to be facing resistance near the $2,080 level. The next key resistance is near $2,100, with the first major resistance at $2,120. If the price manages to cross the $2,120 resistance, this could push Ethereum (ETH) towards the $2,200 level. A further increase above the $2,200 resistance could trigger a price increase in the coming sessions, with the potential to reach the $2,250 or even $2,320 resistance zone in the short term.

Support During a Downturn

If Ethereum (ETH) fails to break the $2,100 resistance, there is a possibility that the price will drop again. Initial support lies near the $2,040 level, with the first major support in the $2,025 zone and the 61.8% Fibonacci retracement level of the price increase from $1,980 to $2,104. A drop below the $2,025 support could push the price towards the $2,000 support. A further drop could direct the price towards the $1,950 support level in the near term, with the next key support at $1,880.

Technical Indicators

The hourly MACD indicator for ETH/USD shows a loss of momentum in the bullish zone. Meanwhile, the hourly RSI (Relative Strength Index) for ETH/USD is now below the 50 zone, suggesting that there could be more selling pressure emerging if Ethereum (ETH) fails to maintain its positive momentum.

Conclusion

Although Ethereum (ETH) has shown encouraging signs of recovery by breaking back through the $2,000 level, there is still uncertainty as to whether this will continue to be a bullish trend or just a temporary bounce. Investors and market watchers should continue to monitor technical indicators and key support levels to get a clearer picture of the future direction of the Ethereum (ETH) market.

Also Read: Lighter Tariff Hike Triggers Altcoin Surge: Solana, DOGE, and ADA Shine

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Ethereum Price Back Above $2000. Accessed on March 26, 2025
• Featured Image: Juno