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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Ethereum Reclaims Key Support At $1,574 – Here’s The Next Price Target

Semilore Faleti
Semilore Faleti
3 months ago
2 mins read
Ethereum

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Market prices of Ethereum (ETH) gained by over 4% in the past day, as the prominent altcoin broke out of a tight consolidation zone between $1,548 and $1,599. Despite some retracement in the last few hours, the growing bullish momentum in the ETH market shows signals of a sustainable price rally. Notably, renowned crypto analyst Ali Martinez has highlighted the potential next price target for the second-largest cryptocurrency.

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ETH Bulls Set Sights On $1,810 Resistance

In an X post on April 12, Martinez shares an Ethereum price prediction using on-chain data from analytics company IntoTheBlock. Martinez’s post shows that Ethereum has now reclaimed a critical support level at a demand zone between $1,547 and $1,595. This zone represents a significant accumulation area, with approximately 5.48 million ETH held by 2.83 million addresses at an average purchase price of $1,574.

Ethereum
Source: @ali_charts on X

The resurgence in buying activity around this price region indicates a considerable trading volume which is critical to sustaining the current bullish momentum. At press time, Ethereum trades at $1,642 showing signs of resilience following its recent breakout. 

If the price rally persists, Martinez explains the altcoin is headed for a strong resistance zone between $1,791.11 and $1,838.86. This area contains 1.61 million ETH held by 3.2 million addresses at an average price of $1,810. Notably, this zone is visualized in red indicating that many of these investors are “out of the money” and are likely to sell once prices recover— offering a potentially significant resistance to Ethereum’s ongoing rebound.

If ETH bulls can surge past this resistance level, it could confirm a trend reversal for the altcoin following a consistent decline since the altcoin hit the $4,000 price zone in December 2024.

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Ethereum Market Overview

Generally, IntoTheBlock’s data shows 56.7% of ETH addresses are currently “in the money,” representing 8.3 million ETH worth about $13.24 billion. In contrast, 41.99% (6.14 million ETH) of holders are “out of the money,” suggesting the market sentiment still largely remains cautious.

Meanwhile, only 191,830 ETH (1.31% of total volume) is considered “at the money,” signaling minimal congestion around the current price level, which may favor a swift move in either direction.

At the time of writing, Ethereum continues to trade at $1,642 as earlier stated, with a price decline of 8.50% in the last week. Meanwhile, daily trading volume is down by 13.08% indicating a waning market interest which could be potentially harmful to the ongoing price rally. 

Ethereum
ETH trading at $1,643 on the daily chart | Source: ETHUSDT chart on Tradingview.com
Featured image from iStock, chart from Tradingview
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Semilore Faleti
Semilore Faleti

Semilore Faleti

Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

Read more

Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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