According to the crypto analyst, the Ethereum price is currently trading closer to the lower border of the ascending channel pattern. This is drawn from the weekly chart, and since the altcoin’s price is yet to break below this channel, then it is still very bullish.
Next is the fact that the support zone around the $1,900 level is still holding. As long as this support holds, then the bears are unable to keep pulling the price down. But a failure to secure this level would lead to an Ethereum price crash.
With all the catalysts staying intact, the crypto analyst predicts that there are five (5) recovery targets for the Ethereum price in total. The fist of the targets is $2,350, which is around a 15% jump from the current level. Once this is surpassed, then the bulls move on to the second target at $2,800.
