The post Can Ethereum (ETH) Bulls Break the $2K Barrier or Are They Stuck in a Bearish Loop? appeared on BitcoinEthereumNews.com.

Ethereum is holding at the $1.8K mark. $21.12 million worth of ETH has been liquidated from the market. The brief uptick in the crypto market cap supports the prevailing mixed sentiment, resulting in a jump between the red and green charts. Bitcoin is trading at around $94.3K, while Ethereum has entered the $1.8K zone. Will the bullish grip initiate a rally soon?  The largest altcoin, Ethereum (ETH), continues to stay in the bearish zone with a 0.51% loss. The altcoin’s mighty bearish trend line will attempt a recovery after crossing over $2K.  In the early hours, Ethereum traded at a low of $1,793, and gradually it climbed to the high range of $1,832. The bullish command has failed to sustain, and at press time, Ethereum traded within the $1,802 mark.  Moreover, the daily trading volume has spiked by over 9.46%, reaching $10.99 billion. Notably, the market has witnessed a liquidation of $21.12 million worth of Ethereum in this interval, as per Coinglass data.  Following a six-month pause, an Ethereum whale has withdrawn 1,700 ETH valued at $3.1 million from Binance. The whale’s total holdings now stand at 5,000 ETH, currently with an unrealized loss of $3.6 million. Can Ethereum Escape the Bearish Zone? ETH’s active bearish pressure on the four-hour trading chart has triggered the potential bears to stay and pull back the price to its previous low in the $1,780 range. In case of the emergence of a death cross, the price could slip to $1.6K. Contrarily, a bullish wave initiated could push the price up to the resistance at around $1,842. Assuming ETH bulls stay for a prolonged gain, it might drive the price toward the $1.9K level, with the target of hitting the long-anticipated $2K. The MACD line and the signal line of the altcoin have crossed…

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Filed under: News - @ May 6, 2025 11:24 am