Ethereum Reclaims $1,800, Eyes 20% Gain to $2,100

Generated by AI AgentCoin World
Thursday, May 8, 2025 4:38 am ET1min read
ETH
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Ethereum (ETH) has recently reclaimed a crucial level, which could potentially trigger a significant breakout towards the $2,100 resistance. The cryptocurrency has been trading sideways, but it has successfully held the $1,750 level as support, which has allowed it to recover nearly 20% over the past two weeks, reaching a one-month high of $1,873 at the start of May.

Analysts have noted that Ethereum's ability to maintain the $1,800 resistance is a positive sign. Michaël van

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Poppe, a prominent analyst, observed that ETH is holding the recently reclaimed resistance and starting to bounce, indicating buying pressure. This suggests that investors are about to witness a big breakout to the $2,100 barrier in the coming 1-2 weeks. Reclaiming this level is crucial for Ethereum, as it served as a key resistance ahead of its Q4 2023 breakout and as a key support zone during the 2024 and early 2025 rally.

Another analyst, World of Charts, highlighted that ETH has been moving sideways between the $1,750-$1,870 price range after breaking out from its downtrend in late-April. This consolidation zone seems to be building up for a solid breakout. If Ethereum can break out from this range and confirm the level as support, it could send the cryptocurrency toward the $2,500 level, which was lost in February.

However, there are also concerns about a potential correction. Market watcher Daan Crypto Trades pointed out that bulls need to act soon to prevent a 15% drop. If the $1,750 support level does not hold, Ethereum could risk falling to the $1,500 area. Daan detailed that if this level gives in, it could be easy to see how ETH could "Bart moves" back down to the $1,500s, warning that ETH could risk a new low if it falls below this level.

Crypto Amsterdam also suggested that if Ethereum is rejected again from the current levels, it could retrace toward the mid-April levels, between $1,550-$1,650, before bouncing toward its range high above the $1,900 mark. As of the latest update, Ethereum is trading at $1,811, reflecting a 1% decline in the daily timeframe.