Ethereum has been on a rollercoaster lately. After a pretty rough patch where it lost over 38% of its value since late February, dropping below $1800 at one point, it’s finally climbing back above the crucial $2000 mark.
The “Manipulation Phase” Might Be Ending
Many were worried Ethereum was entering a bear market. But things might be turning around. Analyst Ted Pillows suggests Ethereum has been going through a “manipulation phase”—a period of wild price swings designed to wear out both buyers and sellers. If Pillows is right, and this phase is ending, we could see a significant price jump soon.
The $2,000 Battleground
The $2,000 level is a major psychological and technical hurdle. Ethereum needs to hold above this level to build momentum. A break above $2,000 is a positive sign, but it’s not a guaranteed win yet. The market is still uncertain, and a further drop is possible.
The Next Big Test: $2,200
The real test will be breaking through the $2,200 resistance level. Conquering this level would likely trigger a larger upward trend, potentially sending Ethereum much higher. Failure to break through $2,200, however, could mean more downward pressure.
What to Watch For
The next few days are critical. If Ethereum can maintain its momentum above $2,000 and push past $2,200, it could signal a significant recovery. However, if it falls back below $2,000, we might see another drop towards $1,800, delaying any potential rally. The situation remains volatile, so keep a close eye on the price action.
