Ethereum breaks $2k! Will ETH price hit $2,500 or drop to $1,950?

Ethereum’s price has increased more than 7%, solidifying its place above $2,000. This rebound has instilled a sense of relief in the altcoin market, leading to optimism about upcoming movements.

Despite gaining momentum, traders remain wary of possible bearish trends. Vitalik Buterin’s recent acquisition of 71.697 ETH raises speculation about future developments, while Justin Sun staked 60,000 ETH.

ETH faces contrasting projections; it could potentially break above $2,200 or even reach $2,573, according to technical patterns. Conversely, if bearish trends prevail, prices might test the support level near $1,950.