After several months of decline, Ethereum, the second largest cryptocurrency, has finally crossed a major technical barrier, showing signs of possible growth.
Ethereum Regains Bullish Momentum
After months of decline, Ethereum has broken its negative trend that persisted since mid-December 2024. The current price of ETH is $2,068.2, significantly above its recent lows.
April 22 marked a turning point when Ethereum broke through the key resistance of $1,600. This technical breakthrough signals a trend reversal.
Fundamentals Strengthen Significantly
Market participants note improvements in Ethereum’s internal structure. The total value locked (TVL) on Ethereum rose from $44.5 billion in early April to $52.8 billion at the start of May, representing a substantial 41% increase in one month. This confirms renewed investor confidence.
Decentralized applications built on Ethereum also show signs of vitality. Deposits on BlackRock BUIDL increased by 50%, those on Spark by 33%, and on Ether.fi by 25%.
Prospects for Further Growth
Despite challenges and competition from Bitcoin ETFs, Ethereum appears to be regaining its strength. If the next resistance levels are successfully breached, the psychological level of $3,000 could be reached in the near future, marking a true comeback for the crypto asset.
Ethereum is showing confident signs of recovery after a long decline, which may herald more significant growth in the weeks to come.
