Ethereum time bomb at the border of 2 dollars and the possibility of a historic explosion!

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The price of Ethereum (ETH) has finally managed to return above the psychological level of $2,000 after weeks of selling pressure. Cryptocurrency data also indicates that the market is entering an inflection point, which usually precedes an explosive move and a major reversal.

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From a technical perspective, Ethereum is still stuck in a bearish trend after falling 60% from its all-time high of $4,953, trading below the 50-, 100-, and 200-day moving averages. The $1,800-$2,000 range has now become a very important stronghold that buyers are defending; But with each collision, the power of the price jump becomes weaker.

Market analysts believe that in the absence of new liquidity, continued high volatility of ETH in this range could lead to a break of the $1,800 support and a deeper fall, unless there is a strong demand and we see a historic explosion!