Ethereum price has become the talk of the town as the crypto has managed to secure the highest levels since August 2022 and also indicating its preparedness to reach beyond $2000 in the coming days. The leader of DeFi space has been maintaining a steady rise since the start of 2023 by rising over 54% which also includes a recovery of 32% in the past few days.
While the price currently appears to be under a bullish influence, a retest is much required to sweep highs beyond $2000. After maintaining a stagnant trend between the pre-determined levels, the ETH is making larger price movements since the beginning of the year 2023. Presently, the price has been maintaining above the support at $1383 for more than 45 days and the sudden spike to $1800 may surely exhaust the bulls.
Hence, a popular crypto analyst, Micheal van de Poppe predicts a pullback to $1680 to $1725 levels before rising beyond $2000.
“Ethereum looks the same.
Great retest around $1610, was hoping for lower numbers (couldn’t hit).
Resistance ar $1850, and then probably pullback to $1680 – $1725 before we’ll continue to $2000 sweep,”
Collectively, the Ethereum price continues to remain under the bullish influence even if the bears trigger a minor pullback. Moreover, the Shanghai hard fork is fast approaching which may induce strength within the bulls who may trigger a rebound in case the price drops. Therefore, sooner or later, the ETH price may reach beyond $2000.