After months of gradual decline, Ethereum is showing active growth again. Strong bullish sentiment supports the rapid dynamics of assets.
Falling Wedge Breakout and Trend Change
Ethereum, which has been in a negative trend for several months, has finally broken out of a long-term descent, surpassing the $1,500 level. This occurred in early April when the asset started to gradually gain strength. After finding support near $1,500, Ethereum displayed signs of a soon-to-happen trend change through significant upward movement.
Key Resistance at $2,150
Currently, Ethereum trades slightly below the resistance level of $2,150, which is critical because it combines both horizontal and diagonal resistance levels. This area previously acted as a support level, underscoring its importance. Ethereum maintains a bullish structure while approaching this level, with no rejection candles emerging, suggesting continued buying interest.
Outlook and Future Movements
If Ethereum can clear the $2,150 level, it may target higher resistance zones in the near term. Although volume data is absent, the sharp breakout suggests increasing demand and supports the idea of possible sustained bullish moves in the market.
Thus, Ethereum is demonstrating signs of recovery following a significant downturn. The reaction to key resistance levels in the future will be crucial in determining the further dynamics.
