Ethereum’s $2k Support Will Be Tested During the Weekly Close. At the time of writing, Ethereum is trading at $2,021 after a brief drop to $1,975 earlier today.
To note is that the weekly close is hours away and the $2k support zone will probably be tested once again. With respect to support, Ethereum has the following between $2k and the macro support area around $1,800.
However, if the $2k support holds as the week comes to a conclusion, the psychological effect of such a support zone holding, will open the doors towards new highs for Ethereum. Chances of breaking the new all-time high of $2,146 early within the new week, are also high with a strong close above $2k.
The digital asset of Ethereum has had 5 consecutive positive quarters since Q1 2020. This Ethereum milestone was shared by the team at Unfolded through the following tweet.
Ethereum had 5 consecutive positive quarters. pic.twitter.com/7p1xnsvuXK
— unfolded. (@cryptounfolded) April 3, 2021
Within the tweet, is a chart that shows that Q1 2021 was a good one for Ethereum with ETH experiencing 159.9% in returns. Additionally, Q2 of 2021 has also kicked off on a high note with Ethereum already displaying 10.27% in gains less than a week into the new month of April.
Ethereum’s push above $2k was finally successful on Friday, April 2nd, as a result of increased on-chain activity as explained by the team at Santiment through the following statement and accompanying chart.
For #Ethereum bulls, Good Friday has a brand new meaning, jumping to a new #AllTimeHigh of $2,083 today. The hour before this price was achieved, we saw $ETH‘s on-chain transaction volume spike. After being hit, discussion rates reached a 7-week high.
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