Although Ethereum (ETH) is recovering the important level for the first time this month, some market observers have advised caution, warning that the start of a new bull may not be here.
Collaborative Reading
No Ethereum Party Until This Happens
After jumping almost 10%, Ethereum is trying to regain the important territory that has been like the big one. resistance zone since the early February crash. Over the past two months, the King of Altcoins has been trading sideways, hovering between $1,800-$2,200 levels.
While the altcoin is passing through the area of $2,150-$2,200, some market observers have warned investors not to celebrate yet, arguing that ETH has failed to maintain this level despite repeating several times during this period.
Analyst Ted Pillows he confirmed that as long as Ethereum holds above the level of $ 2,200, it can move to the top of last month, around the $ 2,400 area, but warned investors that “mistake the beginning of the bull run,” meaning that new lows will come between Q2 and Q3 2026.
Likewise, market watcher Crypto Scient advised investors not to “confuse logic with speculation,” explaining that the cryptocurrency has not moved away from its major trend, which began last October.
According to the chart, Ethereum is currently close to major resistance that still respects the Lower High (LH) pattern. For him, this is “where most people run and get cut.”
Scientists argued that even if the bottom and ETH bull has started, “money will not be made under this. It will be made when the price is above it.”
However, the price must break above the trend, change it to support, and show acceptance above it before calling for a real reversal. “Until that happens, this is just another iteration,” he said.
Key Features to Watch
It’s Martinez he shared Ethereum’s “highest levels” indicate some possible developments in its price. In the first period, the cryptocurrency may be trading in an ascending triangle, with the $1,800 level being the “line in the sand.”
As explained, this price level is like the hypotenuse of a triangle and, if it holds, it could start a rally towards the $4,900 x-axis. This level is also “close to perfect” with the 0.80 MVRV Price Band, which is around the $1,880 area.
The 0.80 level “has become a reliable indicator of cycle bottoms,” as previously shown when sellers tire themselves, and “Strong Hands” take over, Martinez emphasized.
Meanwhile, in the second scenario, Ethereum can move within a equality channel, risking another 30%-50% correction of the trend down between $1,150-$1,170. Martinez emphasized that the UTXO Realized Price Distribution (URPD) shows that the largest groups of ETH were bought between $2,079 and $1,882.
URPD also shows that below $1,880, the most important buying walls are at $1,584, $1,238, and $1,089, which means that if the February low is lost, the price will move to those levels.
“Although the accumulation occurs in $ 1,000, the ‘Start Engine’ for the next major rally is the Guaranteed Price at $ 2,500,” the expert said, adding that every time Ethereum restore Its value is guaranteed, history shows that the owner has returned to profitability and the “winter” is over.
“Clean breathing and saving over $2,500 is my motivation for starting a new stallion,” concluded Martinez.
Image from Unsplash.com, Chart from TradingView.com
