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Despite a volatile past two weeks, powered by the proposed trade rates of Donald Trump and higher than expected inflation data in January 2025 in the US, Ethereum (ETH) successfully defended the $ 2,380- $ 2,460 demand zone. Now analysts look for a potential movement to $ 3,000 for the digital active.
Ethereum defends the most important demand zone in the midst of volatility
According to an x after By crypto analyst Ali Martinez, ETH has succeeded in keeping above the critical $ 2,380 – $ 2,460 demand zone. Without major delivery barriers, the cryptocurrency could be on schedule to reach the price target of $ 3,000.
For the non -ingwrden, a demand zone on the market is a price surface where the buying pressure is considerably strong, which often leads to price controls or upward movements. It is identified by historical price action, where the demand previously surpassed the supply, which increases prices.
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Crypto trader Daan Crypto Trades stock A similar look at the recent price momentum of Ethereum. According to the Trader, ETH has successfully remained above the level of $ 2,500, the most important obstacle to overcome the price level of $ 2,800. They noticed:
The most important level for continuation, and for me to say that this correction is over, would be a re -recording of that $ 2.8k level. Turn the market structure over locally and is at an important high -time level during this cycle.
From a technical perspective, colleague -Crypto -trader Merlijn de trader marked The formation of a ‘textbook double bottom’ on the 5-day Ethereum graph. They further pointed out that the multi -year trendline of ETH remains intact, which suggests that the price structure is prepared for an upward outbreak.
Similarly, the experienced crypto-influencer Crypto Rover has identified a potential triple soil formation on the weekly Ethereum card. If this pattern takes place, the resistance level of $ 4,000 is a crucial barrier for ETH to break before it can try a new all time (ATH).
Is ETH about to surprise the market?
The sub -average price performance of Ethereum in the past year has attracted a lot of attention in the cryptomarket. In comparison with colleagues such as Solana, XRP and Sui, ETH has not succeeded in achieving substantial returns to his holders since he reached his current ATH of $ 4,878 in November 2021.
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These matte performance have fueled an unprecedented level of bearish sentiment around ETH. A recent report revealed that ETH short positions have risen by 500% since November, emphasizing the confidence of investors in the Active.
However, this excessive bearish sentiment could be the scene for one surprise Movement. If ETH succeeds in activating a short squeeze, this can force the liquidation of countless short positions, so that a sharp upward rally is fueled. At the time of the press, ETH acts at $ 2,740, an increase of 4.1% in the last 24 hours.
Featured image of Unsplash, graphs from X and TradingView.com
