Ethereum’s Lazarus Moment: The Make-or-Break Price Level Traders Are Watching
ETH’s chart paints a brutal picture—but one critical support level could flip the script. Here’s where the smart money’s placing bets.
Bulls vs. bears: The $2,800 zone has become Ethereum’s battleground. Lose it, and we’re staring down a 30% drop. Hold it, and the ’ETH is dead’ crowd eats crow.
Meanwhile, Wall Street’s still trying to explain how their ’diversified portfolios’ got wrecked by a JPEG of a monkey.
ETH holders and MDIA | Source: Santiment
Ethereum technical analysis: $2150 is the key price to watch
The daily chart shows that ETH price has bounced back after bottoming at $1,383 earlier this month. It has rebounded to $1,787, its highest level since April 6.
The coin has moved above the upper boundary of the falling channel that had formed since last November. It has also jumped above the 25-day moving average and formed a small bullish flag pattern.
The Awesome Oscillator is about to move above the zero line. It jumped above that level lastly in November, triggering a 40% jump.
Therefore, the key Ethereum price level to watch will be at $2,150, the lowest point in August and September last year. A break above that level will signal more gains, potentially to $3,000. Failure to move above that level is risky because it will signal a break-and-retest pattern, which would indicate further downside.
