After Surpassing $1800, What to Anticipate from the Ethereum (ETH) Price Rally This Month

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Ethereum price surged above a pivotal range at $1800, surging over $1700 in just a few minutes, flashing massive bullish signals for the crypto.

ETH price has outperformed both Bitcoin and Solana in the past 24 hours, hinting towards a massive upswing incoming. The crypto markets are healing after the trade war losses that wiped out billions from the space. While Bitcoin surged above $93,000, the Ethereum price made a more intense leap of over 10% in the past 24 hours and is trying to secure the newly gained support at $1800. Soon after the second-largest token displayed strength, the whales jumped in and intensified their activity, which created a huge volatility. As per some reports, an ETH whale bought nearly 20,000 ETH worth nearly $34.7 million.

On the other hand, another whale withdrew over 12,000 ETH from Binance, which raised the suspicion of a potential drop. However, the selling pressure does not seem to have mounted, hinting towards the price maintaining a continued upswing for the rest of the week.

The ETH price rose but failed to rise above the 50-day MA at $1830 as the bears extracted some of the profits. Meanwhile, the conversion and base lines have triggered a bullish crossover; the cloud suggests the token remains under bearish influence. Hence, the price may continue to remain consolidated within a small range while the bulls are trying hard to defend the support at $1770.

The ETH price is currently trading just below $1800 at $1797, while the gains have dropped below 10%. There is a strong resistance at $1860, and if it is overcome, then the token may try for $2000. Meanwhile, if the price drops to the support area of $1750, it may face a correction below $1700.