Ethereum Must Hold Above $1,850 to Rally Beyond $2,000

Ethereum's price has been steadily increasing over the past month, rising by more than 13% in just 30 days. According to cryptocurrency analyst Ali Martinez, for Ethereum to rally above $2,000, its price must hold above a recent support level at $1,850.

Martinez noted that Ethereum's price has been forming a rising channel in its 1-hour timeframe, and he set a price target of $2,060 if the lower boundary support level holds. As long as this support continues to hold, Martinez is watching for a move back toward the upper boundary near $2,060.

Currently, Ethereum's price trades at around $1,882, with a 10% rally expected by Martinez if the support level holds. However, if Ethereum's price falls below its established rising channel, the analyst's target would be invalidated.