- Ethereum struggles at $1,842 after a 2.12% dip, failing to break $2,160 resistance.
- Analyst sees trend reversal potential, projecting ETH to hit $5,000 by April-May.
- Bearish signals persist as RSI weakens, MACD turns negative, and support at $1,523 is critical.
Ethereum has reached a critical juncture, hovering at $1,842.5 after a 2.12% dip in the past 24 hours. The cryptocurrency is struggling to maintain stability after failing to break past the $2,160 resistance level. This rejection has reinforced negative sentiment among traders, raising concerns about further declines.
Analyst CryptoELITES points to Ethereum’s repeated tests of a long-term ascending trendline as a sign of potential trend reversal. The digital asset recently bottomed at $1,869.21, marking the third time this support level has been tested since the bear market began.
Historically, ETH has shown strong rebounds from this zone, and analysts…
