Cryptocurrency experts predict Ethereum growth to $ 1840

Over the past day, Ethereum ETH $1,596.81 Bridged Ether (StarkGate) 0.40% Market capitalization $0.14 billion VOL. 24 hours $0.31 billion showed a 10% increase, which occurred against the backdrop of a 90-day pause in the US imposing trade tariffs on more than 75 countries. Against this backdrop, the second largest cryptocurrency by capitalization is now trying to gain a foothold above $ 1,800, a key resistance level that could become a starting point for further growth.

Earlier this week, the price of ETH dropped to a two-year low of $ 1,385, which provoked a wave of pessimism among investors. The loss of support in the range of $ 2,100−3,900 and a drop below $ 1,640 raised fears that Ethereum could test the $ 1,000−1,200 zone. However, analysts point to the similarity of the current price movement to March 2020, when ETH dropped below the «realized price» and then recovered rapidly.

A key factor in optimism is the analysis of the ETH/BTC ratio. According to a Titan of Crypto analyst, the RSI shows a familiar formation that has already preceded Ethereum’s growth in 2021. This is the third time since 2022 that a similar pattern has been observed, which may indicate a potential trend reversal. The Crypto Bullet analyst believes that a weekly close above $ 1,550 will signal a resumption of growth.

The current price dynamics is also associated with the descending wedge technical pattern, which, according to trader Lluciano, may end with a breakout above $ 1,840. If this happens, Ethereum has every chance of significant growth. As of the time of the publication of the news, ETH is trading at $ 1,566, which is still an 11% drop for the week.

Thus, the situation on the Ethereum market remains uncertain: on the one hand, there are technical signals for a reversal, and on the other hand, the need to overcome critical levels to continue growth. Institutional decisions and global economic factors may become catalysts for further dynamics in the coming weeks.