Ethereum price moves toward $2,000, but analysts say it’s just another ‘relief rally’

ETH/USDT 1-day chart. Source: TradingView

Here are the views of a number of experts on Ethers future prospects and the main resistance and assistance levels that ought to be monitored.

The cryptocurrency market saw a much-needed rebound on May 30. Bitcoin (BTC), which was above $30,900, and Ether (ETH), increased 5.84% to $1.930. However, experts alert that it is prematurely to anticipate a turnaround.

Major support is not adequate to get you going again

Market expert Rekt Capital published the following chart. He mentioned that the May 30 Ether bounce was “not a surprise”.

ETH/USD 1-month chart. Source: Twitter

Rekt Capital said:

Related: Industry specialists concur that market-cleansing bear seasons are healthy.

The Ether rate rebound was welcomed by traders. Crypto Tony posted the following chart and alerted that traders must not lose sight of the bigger picture.

Looking for “another leg down”.

” Yes, things look great at the moment however for me this is just a relief rally. There is no market structure that has been broken in the offered timeframe and I will continue to try to find another leg down up until it is proven otherwise.

Crypto Tony:.

” IF we can hold this on 3D, I could see a bounce at the $2700 region in the summertime.

The chart shows that Ether could stop by one leg if it is not taken care of.

ETH/USDT 1-day chart. Source: Twitter.

The cryptocurrency market saw a much-needed rebound on May 30. Bitcoin (BTC), which was above $30,900, and Ether (ETH), rose 5.84% to $1.930. Experts caution that it is too soon to expect a turnaround.

The total cryptocurrency market capitalization is now at $1.271 trillion. Bitcoins supremacy rate of 45.9%.

Technically, #Ethereum can rally approximately $2269 in order to turn it into new resistance. The bottom line is that no matter what this rally ends up being, it will likely be less than mid-2021.

Possible recovery as much as $2,700.

ETH/USD 3-day chart. Source: Twitter.

” IF we can hold this on 3D, I might see a bounce at the $2700 area in the summer season.

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Ace of Alts:.

Ace of Alts, a crypto trader, offered insight into possible cost trajectories of Ether. He posted the following chart revealing that ETH is “currently holding its range lows again for 4th time.”.

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