Can ETH reclaim the $2000 throne as the market enjoys some bullish relief

Following the FOMC meeting, ETH did witness some signs of a bullish stride. However, with the ETH whales in selling mode, a bullish narrative remains questionable.

Now the big question is whether ETH will maintain the bullish momentum and head for yet another retest of $2,000. The answer depends on multiple factors, and the key among them is the level of demand that the cryptocurrency can achieve in the next few hours.One of the best ways to assess the level of buy pressure is to look at the level of leveraged liquidations that may trigger buy pressure.

ETH, at the time of writing, was still seen having a tough time securing more upside as seen in its recent price action despite the hopes of a sizable mid-week bounce. It exchanged hands at $1875 at press time.

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