A total two-day increase of 37.4% is the largest since early 2019 🔎📈
Record demand for Ethereum continues for the second day in a row. The price of the second-largest project is once again up over 9% to 2,370 USD, bringing the total gain over two sessions to 32%.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appSuch a strong rebound is the result of an exceptionally negative sentiment that persisted in the market for an extended period. Ethereum had been declining for nearly five consecutive months, with the scale of the sell-offs exceeding 10% in three months separately. In February and March alone, we saw drops of 33% and 17%, respectively.
The correction in Ethereum reached over 65% from its peaks in 2924, with a scale comparable to the bear market of 2022. This is why the current rebound is so significant.
Ethereum is currently recording its largest two-day gain since 2019 – a total of 37.4%.
Ethereum (D1 interval)
From a technical analysis perspective, we are now entering an important resistance zone just below the 2,500 USD level. Everything depends on whether such strong buying pressure can be maintained, but short-term investors are strongly incentivized to take profits. A correction at these levels would be justified, but given the dynamic rally, it’s difficult to estimate technical resistance levels.
Source: xStation 5
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
