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ETH Cryptocurrency analyst Michaël van de Poppe commented on the recent technical aspects of Ethereum (ETH) that the bullish scenario is getting stronger. The analyst pointed out that the higher lows and higher highs formed on the ETH daily chart highlighted the possibility of an upward breakthrough.
Van de Poppe pointed out that Ethereum's daily chart "looks better day by day" and highlighted the $1,870 and $2,000 levels in the current market structure.
According to the analyst, if ETH loses the $1,870 level, the decline could be quite rapid due to the high liquidity area below the price. In this case, ETH could fall below $1,700 and then rebound.
However, Van de Poppe believes that the current technical structure is more supportive of gains than declines. He pointed out that Ethereum prices continue to form higher lows and higher highs, so he believes the probability of an upward breakthrough is higher.
$2,000 is a key threshold for Ethereum
According to Van de Poppe, if Ethereum clearly breaks the $2,000 level, the rise could become very fierce. The analyst said that after such a breakthrough, he does not expect ETH to stay at important resistance levels for too long and may experience a surge similar to some rapid price movements in 2025.
Van de Poppe pointed out that ETH could encounter short-term resistance around $2,200 during its rise, adding that this could be a mid-way level in a larger trend.
The analyst's main upside target is $2,800. Therefore, if you break through $2,000, the Ethereum price may first reach $2,200 and then the $2,800 area.
On the other hand, the $1,870 level is a key support in a downward scenario. Van de Poppe warned investors that if this level falls short, there could be a rapid liquidity move below $1,700.
