Rekt Capital was referring to the area between $1,600 and $2,000, within which ETH price oscillated for over eight months between April 2023 and November 2023 before rallying 126% to $4,093 in March 2024. “Ethereum needs to keep holding here,” Rekt Capital said, adding that if the price stability can be sustained, there is a chance that the altcoin could stage a similar recovery as the one seen in early 2024.ETH/USD monthly chart.
Reduced trade tensions often lead to increased investor confidence in riskier assets, as global economic stability encourages capital flow into cryptocurrencies.“Macro risks remain, but one critical overhang appears to be cleared,” said trading firm QCP Capital in response to Trump’s supposed policy shift, adding:“Trump is signaling no intention to replace Fed Chair Powell for now.
The reassurance has prompted a modest pullback in long-end yields, helping reduce a key tail risk.”$110M in short ETH positions liquidatedEther’s bullishness on April 23 is accompanied by significant liquidations in the derivatives market, signaling strong upward pressure.
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Author / Journalist: Cointelegraph by Biraajmaan Tamuly
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