Ethereum achieved a strong leap after a period of retreat and stagnation, as it exceeded 1850 dollars and rapidly increased to 2490 dollars within a few hours, which represents a 37%gain, and this sudden increase brought back the ups off to Ethereum after months of side moves and negative feelings, and ignited hopes in the digital currency market by approaching the start of the expected alternative currency season.
This ascension not only reflects Ethereum power, but it may be the spark that drives other alternative currencies to rise, especially since many of them remained behind Bitcoin for more than a year, and with Etharium’s return to their important levels and superior performance in the short term, investors began to turn their capital again towards currencies with high potential.
Digital analyst Queen Francois published a graphic drawing across the X platform that shows that Ethereum has broken the down -to -bitcoin curve in front of Bitcoin, a technical development that indicates the end of the long -term performance period of Ethereum compared to Bitcoin, and this is often a prior indication of the launch of other alternative currencies.
With the increasing momentum of Ethereum and the change of the ETH/BTC ratio in its favor, the market morale began clearly towards the upper direction, not only for Ethereum but also for the entire sector, which means that this penetration may only be the beginning of a broader movement.
Ethereum penetrates multiple show levels and faces major resistance
After the strong rise that pushed it over the resistance of 1850 dollars and reached it to 2490 dollars, Ethereum has now begun with cohesion, as buyers try to maintain support near the level of $ 2,500, this level has quickly turned into a decisive demand area, and its movement may be determined during the weekend whether it will continue this momentum or enter into a temporary corrective stage, and with the stability of Bitcoin near its highest historical levels turned attention to the alternative currencies led by Ethereum.
For the first time in years, Ethereum seems to adopt a strong bullish temple after a long period of sales pressure and negative feelings, and this last height is a clear shift in the tone of the market, where technical and basic indicators began to converge, and among the most prominent of these indications is what Francois referred to about breaking the Eth/BTC beating curve that has extended since December 2021, which is the foregoing of great inception of alternative currencies.
In addition to the positive image, the updated Pectra update, which aims to improve the efficiency of the network, develop the storage structure and simplify future updates, which contributed to renewing investor confidence and supporting the Ethereum vision as a pioneering project in the next stage of the market.
If Ethereum is able to maintain its position above the level of $ 2,500 and Bitcoin continues to move near its climax, then the environment seems to be prepared for a new start for a strong rise, and traders will closely monitor Ethereum during the weekend, as the continuation of this strong performance may be the beginning of the actual alternative season, especially with the penetration of resistance levels, the general mood change and the network’s willingness to fundamental updates.
ETH price penetration .. purchase pressure determines the path
The Ethereum movement recently showed a remarkable breakthrough as the price jumped from about 1800 dollars to $ 2352 in a few sessions, and the graph data on the time frame shows 4 hours the strength of this move, as it was accompanied by a significant increase in trading volume and the formation of a strong upscale candle that clearly exceeded the averages, the simple and si moving averages for 200 days, which are currently located at 1716 and 1821 dollars, and is considered to be These averages are now strong dynamic support areas.
The price is currently in the case of holding over the level of $ 2340, indicating that buyers maintain gains and try to establish a new starting base above this psychological level, and this stand can give the currency an additional momentum to test the next resistance level near $ 2500, a level that corresponds to the previous summits recorded in early January.
This penetration is of special importance because it came after months of transverse moves and continuous decline, and the sharp decline of the rise reflects a shift in the market structure, where the sellers were subjected to heavy pressure while liquidity flowed again towards Ethereum, and if the buyers maintain control and the price is settled over 2200 dollars in the short term, the possibilities of continuing to rise remain strong, but if the price is broken this level with a rise in the trading volume, we may see Correcting about 2000 to 2100 dollars before continuing the upward trend.
