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Ethereum is under pressure after failing above the whole of $ 1,874 on May 1, a level which now acts as rigid resistance. While the wider market of cryptography begins to warm up, Ethereum remains stuck in a tight range, without momentum to confirm an escape. Currently, negotiating just above $ 1,800, the ETH is at a critical level where the bulls must intervene to defend the structure and push the higher price.
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Despite several attempts, Ethereum was unable to establish a clear direction and market players become cautious. The asset is still down more than 55% compared to its summits in December, reflecting a period of prolonged weakness compared to other major cryptocurrencies. Without a strong thrust through resistance, Ethereum may be delayed.
Top Michael Van’s crypto investor recently shared a technical analysis suggesting that Ethereum is still in the accumulation phase. According to Van de Poppe, ET shows signs of strength and accumulation against BTC in the background, but needs confirmation by decisive break above current levels. Until then, Ethereum remains linked to the beach and vulnerable to volatility. With the discrepancy of market feelings and imminent major movements, the next few days will be crucial for the short -term prospects of the ETH.
Ethereum accumulation: the ETH / BTC graph refer to an imminent movement
Ethereum continues to fight below the $ 2,000 mark, not having recovered key resistance levels despite wider market activities. While ETH / USD remains without direction and is always negotiated more than 55% below its December summits, a more in -depth examination of the ETH / BTC graph reveals something more constructive below the surface.
Van de Poppe recently shared an analysis highlighting a clear accumulation structure forming in the ETH / BTC pair. After months of coherent drawback, the graphic watch Ethereum which comes out of a fall corner and consolidating in a tight beach just below the critical resistance at 0.0195 BTC. According to Van de Poppe, it is a classic accumulation model, indicating that Ethereum can prepare for a significant rupture compared to Bitcoin.
The graph also highlights a key demand area around 0.0184 BTC – an ETH area has held on several occasions. As long as this level holds, Van de Poppe thinks that Ethereum could continue to grind higher and possibly eliminate liquidity above the resistance. A successful escape could mark the beginning of Bitcoin outperforming Ethereum, a trend often observed during the Altcoin expansion phase of a bull market.
However, risks remain. The wider market is always strongly influenced by macroeconomic uncertainty, in particular surrounding American-Chinese tensions. For the moment, the upward case of Ethereum depends on the maintenance of the current management and the cleaning of the resistance of 0.0195 BTC. In case of success, this accumulation can become the basis of a strong rally.
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Eth Price is consolidated in a tight fork
Ethereum is currently negotiating at $ 1,795.79 after a slight rejection compared to the local summit of $ 1,874 reached on May 1. The daily graphic shows that ETH consolidates itself in a tight fork after its rebound from April nearly $ 1,500. However, despite this stabilization, the ETH remains well below the simple 200 -day mobile average (SMA) at $ 2,7..54 and the exponential mobile average of 200 days (EMA) at $ 2,437.55 – indicating that the wider trend is still down.
While the bulls have managed to prevent the drawbacks more, Ethereum has not yet exploded from its long -term trend. The fact of not recovering $ 2,000 while the support continues to cap the bullish momentum, and the volume remained modest during the recent price action, showing a lack of conviction on the part of buyers and sellers.
The structure currently promotes accumulation, but the ETH must decisively erase the resistance zone from $ 1,875 to $ 2,000 to move the feeling and validate a trend reversal. If it does not do so, the risk of a renewed withdrawal to the support zone from $ 1,650 to $ 1,700 increases.
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Overall, Ethereum is at a central stage. The more it is consolidated below the medium of major moving, the more likely the market is that the market remains cautious. A rupture of more than $ 2,000 could trigger an upward renewal and report a wider market force.
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