Ethereum (ETH) is on the rise! It jumped over 4% in the last day, breaking free from a tight trading range. Even after a small dip, things look bullish. One analyst predicts where ETH is headed next.
A Look at the $1,810 Target
Crypto analyst Ali Martinez sees a potential target for Ethereum at $1,810. He’s using data from IntoTheBlock, showing ETH has reclaimed key support around $1,574. This area represents a lot of accumulated ETH, bought at an average price of $1,574. The renewed buying here suggests strong support for the current price increase.
Right now, ETH is trading around $1,642. If this rally continues, Martinez says the next hurdle is a resistance zone between $1,791 and $1,838. Many investors bought ETH in this zone at an average of $1,810, and they might sell if the price gets there, creating resistance. Breaking through this resistance would be a big deal, potentially reversing the downward trend since ETH hit $4,000 in December 2024.
Ethereum Market Sentiment
IntoTheBlock’s data shows a mixed bag. About 57% of ETH holders are currently “in the money” (their ETH is worth more than they paid), while about 42% are “out of the money.” This shows some caution in the market. There’s not much congestion around the current price, meaning a quick price swing either way is possible.
Currently, ETH is trading at $1,642, down 8.5% in the last week. Daily trading volume is also down 13%, suggesting waning interest, which could hurt the rally.
