Ethereum Recovers Above the Psychological $2,000 Mark

Ethereum (ETH) Current Statistics

The current price: $2,333.55
Market Capitalization: $281,727,164,207.98
Trading Volume: $41,539,541,370.5
Major supply zones: $3,500, $4,000, $4,500
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis May 9, 2025

The price of Ethereum (ETH) rebounds above the moving average lines and recovers above the psychological $2,000 mark. The bullish momentum continued to rise to highs of $2,100 and $2,400 after breaking through the $1,880 barrier. It is currently anticipated that the bullish momentum will peak at $2,550.The largest altcoin has the potential to rise above $2,550 and reach a peak of $2,800.

However, Ether will fall and be compelled to make a range-bound move below the most recent high if the bullish ascension is invalidated at the high of $2,550. In the meantime, Ether is currently trading around $2,343, and if the bullish scenario fails, sellers will try to sink the price below the 21-day SMA.

ETH Technical Indicators Reading

The long candlestick wick on May 9 indicates strong selling pressure at the recent high. The horizontal moving average lines on the 4-hour chart have a bullish crossover. The 21-day SMA is above the 50-day SMA, indicating bullish signals. The Ether price bars recovered above the moving average lines following two weeks of consolidation above it.

Conclusion

Ethereum recovers above the psychological $2,000 mark, resuming its bullish trajectory. Ether is trending on the 4-hour chart after rallying to $2,490. It trades below the resistance level at $2,400 but above the $2,250 support. If buyers maintain the bullish momentum above the $2,400 high, it will increase. Since the altcoin remains above the $2,300 support, the bullish signal is favorable.

Make money without lifting your fingers: Start using a world-class auto trading solution.

Note: Learn2.Trade is not a financial advisor.  Do your research before investing your funds in any financial asset or presented product, or event. We are not responsible for your results.