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Ethereum faced Intense pressure Over the past few weeks, with a decrease in the price of 2000 dollars. This intense range of declines witnessed that the cryptocurrency is less than $ 1750 on March 11, which represents its lowest point since November 2023. However, despite this sharp decline, the new technical preparation indicates that Ethereum can be on The edge of the shift ascendingAs it is now re -testing the main resistance level on the graph for 4 hours.
Ethereum re -testing critical resistance after the bounce
The Ethereum price procedure was full of landing and many of them Investors come out of their positions Since the beginning of March. As such, Ethereum finally erupted to less than $ 2000 on March 10 after supporting to keep it, and last week spent trading without this level.
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Although Ethereum is sinking Signs of recovery appear It has now recovered to about 1900 dollars. This small recovery procedure has restored that the cryptocurrency is to a drop -resistant line, a level that was an obstacle to upward movements of accumulations during the last declining direction.
The test of this resistance is now displaying a possible scenario as the bullish momentum flows to Ethereum. The most prominent analyst in TradingVief A large gathering over $ 2000.
The analyst determines the objectives of the ups of the ETH
Despite the dominant feelings that are still highly weighing on the broader encryption market, a tradingView analyst Determine a The bullish commercial preparation on the candlestick scheme for 4 hours of ETHEREUM. This indicates that despite the recent decline, there is still a degree of optimism between some analysts and investors who believe Ethereum It can soon regain its upper foot.
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According to the analysis, a sure collapse can be above $ 1885 as an ideal entry point. At the time of writing this report, Ethereum was not separated after the rolling slope resistance line, as the penetration point was currently determined slightly less than $ 2000. If Ethereum eventually broke over the resistance, the analyst notes a potential target of $ 2596.
On the other hand, the analysis that puts a loss at $ 1700 is advancing, which means that the preparation is organized to manage risk with the goal of great gains. This is in the case of whether the landmark is very large so that it cannot be overcome, and the ETHEREUM price is rejected again on the resistance direction line. Given the high -risk reward percentage, the analyst advised to see an increase in size, providing an affirmation that Ethereum explodes with momentum.
At the time of writing this report, ETHEREUM is traded at a price of $ 1895. During the past 24 hours, price traffic has witnessed that Ethereum reached the highest level per day at 1950 dollars before rejection. However, the pioneering altcoin still revolves around the resisting trend line, and there is an opportunity for Pay up again In the next 48 hours.
Distinctive image from Unsplash, Chart from TradingView.com