Will Ethereum Hit $2,000 in April?

The cryptocurrency market has been rattled after the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance, alleging “wilful evasion” of U.S. laws, which resulted in the withdrawal of a whopping $485m from the under-fire exchange in a matter of 12 hours.

The FTX spirit is hanging above traders, and it can be seen on the Ethereum (ETH) price-tag. ETH has been consolidating for nearly two weeks, and considering the short-term trend being bullish, Ethereum traders can expect the rise to rise above $2,000 after breaching the resistance zone.

However, Bitcoin (BTC) may prepare for a correction, which may swing ETH downwards in the process. In a bearish scenario, characterized by a breach of the $1,700 support zone, traders may be looking for selling opportunities with a target by the $1,500 support zone.

The next move for Ethereum is likely to be positive after the price correction, as the cryptocurrency market outlook and sentiment is on the rise since the start of the year. As bank fears are becoming brushed off, traders may expect some rallies in major cryptocurrencies.