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ETHEREUM is gaining a dangerous momentum after a 45 % strong increase last week, restoring major price levels and marrying speculation about the start of the wider season. The second largest encrypted currency by the maximum of the market is now pushing to critical resistance areas that can determine the next station of this gathering. After months of weak performance and a declining feeling, the sudden power of the ETH is converting the invested focus again towards the Altcoin market, where analysts indicate the outbreak of Ethereum as a possible spark for widespread recovery across the sector.
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Supreme analyst Dan Technical Analysis highlights the importance of the last step for Ethereum. According to Daan, the huge weekly candle – one of the largest for years – was driven by a set of technical penetration and short pumpkin, where a large number of Haboodi positions were closed.
This mutation was not only nullified the last hole structures, but also a structural shift in the momentum. With the pressure on ethereum now in a new area and the investor’s confidence, the market appears to be ready to renew. If ETH continues to keep more than the current levels, it may pave the way for ALTCOINS to become stronger altseass since 2021.
Ethereum regains strength during the main resistance test
Ethereum finally shows signs of strength after months of constant pressure. Since late December 2024, ETH was in the direction of a fixed drop, as it lost more than 66 % of its value as investors were rotated to other assets amid total economic uncertainty and the demand for altcoin. However, a major shift in feelings appeared in early April, when Ethereum started climbing quickly, gaining more than 85 % in just a few weeks. This ETH gathering has returned to critical resistance levels that can determine whether there is now a continuous upward trend.
The most prominent Dan The importance of this step, indicates that Ethereum is now in a “big level”. He pointed out that the price movement last week produced the largest weekly candle in years – an explosive step that fed up with tremendous short pressure. Months of integrated downward situations were stopped with the explosion of the gathering between many, which led to a sharp rise in prices.
Dan warns that although this step is impressive, the next stage revolves around the fluctuation management: “Play this level according to the level”, as it is advised, “and watch next week to develop to find out where this Alts will be captured after the completion of the beating.”
This moment is very important not only for Ethereum but also for the broader Altcoin market. ETH is often an indication of the appetite of renewable risks and the rotation of the capital in smaller assets. Since the bulls are now controlling and pressing prices in a major supply area, how Ethereum behaves in the coming days can determine whether Altseason really begins – or whether this gathering is just a reaction to excessive location. In both cases, the ETH power has returned the market to alert.
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Technical offer: high prices over the average weekly movement
ETHEREUM shows clear signs of recovery on the weekly timetable, and decisively broken higher than the 200 week -week -old -week -old moving average (SMA) for the first time since the downward trend began earlier this year. After reaching the lowest weekly level less than 1400 dollars just a few weeks ago, the ETH rose strongly, and this week was closed near $ 2555 – an increase of 45 % that represented its explosive candle more than a year ago.
The ETA chart appears more than 200 weeks at a price of approximately $ 2,259 and regain SMA for 200 weeks at approximately $ 2,451. Analysts often use these two trends in the long term to distinguish between the stages of bear and the bull market. ETHEREUM’s ability to close over both signs is a potential shift in feelings and structure, especially after months of low altitudes and low size.
Size on this penetration is noticeable as well. The past two weeks have seen a significant increase in participation, indicating that this step is not just a short pressure, but it is likely to start the wider recovery direction. ETH is still facing resistance in an area between $ 2,700 – 2800 dollars, but restoring this range can open the door to a continuous gathering in the third quarter. The next few candles will be a key to confirming this bullish reflection.
Distinctive image from Dall-E, the tradingView graph
The post Ethereum Hits Major Level After Biggest Weekly Candle In Years – What Comes Next? first appeared on Investorempires.com.
