Ethereum Ready to Soar? Key Indicators Show Bullish Signals
Altcoin Sherpa, a well-known crypto trader who maintains a significant Twitter following while remaining anonymous, has recently drawn attention to Ethereum (ETH) bullish signals.
According to Altcoin Sherpa, these signals are the first positive indicators for Ethereum since November 2021.
In a recent strategy session, Altcoin Sherpa highlighted that the price of Ethereum has broken out and is now trading above its one-day Exponential Moving Averages (EMAs), which is seen as a positive signal by traders.
Quick video on $ETH and #Ethereum. I view both pairs and I would really like to see continued momentum past this $1850 breakout and more volume follow up.
To be determined if this is going to be a true break or if this is just a deviation and price is headed back within the… pic.twitter.com/Uo7D5BLY5T
— Altcoin Sherpa (@AltcoinSherpa) April 4, 2023
Altcoin Sherpa cautioned, however, that the recent upswing in Ethereum’s price could soon lose steam, with the $2,000 level potentially acting as resistance. He believes that in the short term, Ethereum may dip back to $1,700.
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Altcoin Sherpa also emphasized the importance of seeing strong follow-up and momentum after a breakout like this, instead of just consolidation, for the bullish trend to continue.
Despite the warning, Ethereum is currently trading at $1,870, representing a 2.4% drop over the last 24 hours.
Altcoin Sherpa’s bullish outlook on Ethereum is supported by the fact that on higher timeframes, all EMAs for Ethereum are showing solid bullish trends, having tightened up and consolidated.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
