Ethereum (ETH) is showing strong signs of recovery as it trades above the crucial $2,000 level, potentially marking the end of its accumulation phase. After experiencing a sharp 38% decline since late February that briefly pushed prices below $1,800, ETH appears poised for an expansion phase that could trigger significant upside movement.
As highlighted in recent analysis of Ethereum’s price action, the $2,200 level remains a critical threshold that could end the current downtrend. The latest market developments suggest this target may soon be within reach.
Technical Analysis Points to Accumulation End
Prominent crypto analyst Ted Pillows has identified what he terms the ‘manipulation phase’ – a period of erratic price action designed to shake out both bulls and bears – is nearing completion. This phase typically precedes major directional moves, with current indicators suggesting an upward bias.
Key Price Levels to Watch
Currently trading at $2,070, ETH faces several critical resistance levels:
- Immediate resistance: $2,200
- Secondary target: $2,250
- Critical support: $2,000
- Emergency support: $1,800
Risk Factors and Market Outlook
While the technical setup appears bullish, several risk factors remain:
- Potential failure to hold $2,000 support
- Market-wide sentiment shifts
- Macro economic headwinds
FAQ Section
Q: What is the manipulation phase in crypto markets?
A: It’s a period of volatile price action designed to exhaust both buyers and sellers before a major trend begins.
Q: What are the key levels for Ethereum traders?
A: The critical levels are $2,000 as support and $2,200 as resistance, with $2,250 acting as a secondary target.
Q: When could the expansion phase begin?
A: According to analysts, a confirmed break above $2,200 could trigger the start of the expansion phase.