{"id":22651,"date":"2025-04-26T11:00:49","date_gmt":"2025-04-26T11:00:49","guid":{"rendered":"https:\/\/cryptd.in\/ethereum-eth-near-a-breakout-analyst-says-it-could-soar-another-28-by-may\/"},"modified":"2025-04-26T11:00:49","modified_gmt":"2025-04-26T11:00:49","slug":"ethereum-eth-near-a-breakout-analyst-says-it-could-soar-another-28-by-may","status":"publish","type":"post","link":"https:\/\/cryptd.in\/el\/ethereum-eth-near-a-breakout-analyst-says-it-could-soar-another-28-by-may\/","title":{"rendered":"Ethereum (ETH) Near A Breakout? Analyst Says It Could Soar Another 28% By May"},"content":{"rendered":"

Ethereum (ETH) experienced a significant recovery over the past week after jumping over 10% to the $1,800 resistance. The cryptocurrency\u2019s momentum has seen it reclaim key levels, which could ignite a 28% rally continuation in the following weeks.<\/p>\n

Ethereum Reclaims First Horizontal Level In Months<\/h2>\n

Over the past week, Ethereum\u2019s price has jumped around 14% to retest crucial support levels. Amid the market recovery, the cryptocurrency reclaimed the $1,600-$1,650 zone at the start of the week, holding a historical demand area as support.<\/p>\n

According to analyst Rekt Capital, ETH is holding<\/a> the bottom of its historical demand zone, between $1,650 and $1,950, after its recent performance, \u201crepeating history also by wicking briefly below it.\u201d<\/p>\n

Since losing its $2,196-$39,00 Macro Range, the cryptocurrency has traded<\/a> within this range, upside wicking to the region\u2019s top and turning it into resistance, and downside wicking below the bottom to turn it into support, like in 2023.<\/p>\n

According to the analyst, \u201cEthereum needs to keep holding here. If this price stability here can be sustained\u2026 There is a chance\u201d to repeat its mid-2023 performance, where the token bounced from this region and hit its early 2024 high of $4,093.<\/p>\n

Meanwhile, Daan Crypto Trades noted<\/a> that ETH has flipped a horizontal level back into support. The analyst pointed out that since closing above the $1,750 mark for the past three days, the King of Altcoins has shown a \u201cchange in market dynamics.\u201d<\/p>\n

\"ethereum\"<\/p>\n

Notably, Ethereum has not been able to reclaim previous horizontal levels for months, getting rejected<\/a> and making new lows instead. Daan asserted that the $1,750-$2,100 price range is crucial to continue ETH\u2019s bullish momentum.<\/p>\n

ETH On The Verge Of Breaking Out<\/h2>\n

Amid this performance, ETH is nearing a breakout from its multi-month downtrend. The cryptocurrency has been in a downtrend since hitting its cycle high of $4,107 in early December, retracing over 56% since then.<\/p>\n

However, Ethereum is attempting to break from the descending resistance again amid its retest of the $1,800 barrier. Analyst Crypto Caesar affirmed<\/a> that ETH \u201cis on the verge of breaking out. We really just need that higher high\u2026\u201d<\/p>\n

Analyst Ted Pillows considers<\/a> that a 28% jump by next month could be possible if the cryptocurrency reclaims this crucial short-term resistance. He pointed out that the $1,800-$1,850 zone is the next level to break before the $2,000 barrier, noting an inverse head and shoulders pattern on ETH\u2019s chart.<\/p>\n

\u201cIf ETH manages to break above it, it could rally towards $2.2K-$2.3K in May,\u201d he concluded. Another analyst previously<\/a> suggested that Ethereum won\u2019t start a new rally until it reclaims the $2,330 barrier, where over 60 million addresses have purchased the cryptocurrency.<\/p>\n

As of this writing, Ethereum trades at $1,795, a 2.1% increase in the daily timeframe.<\/p>\n

\"Ethereum,<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum (ETH) experienced a significant recovery over the past week after jumping over 10% to the $1,800 resistance. The cryptocurrency\u2019s momentum has seen it reclaim key levels, which could ignite a 28% rally continuation in the following weeks. Ethereum Reclaims First Horizontal Level In Months Over the past week, Ethereum\u2019s price has jumped around 14% […]<\/p>\n","protected":false},"author":1,"featured_media":22653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-22651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nEthereum (ETH) Near A Breakout? 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