Ethereum Price Prediction: Can ETH Break $2150 After Holding Key Support?

Ethereum (ETH) is currently attempting to build a bottom, but the overall trend has not fundamentally shifted, so it is too early to assert a trend reversal. While Ethereum has held the February bottom support, which is crucial, it is still trading below major overhead resistance, suggesting the market is in a recovery attempt rather than a confirmed bull market.

Ethereum Price Analysis: Daily Chart

From the daily chart, market sentiment remains skewed to the bearish side. Ethereum's price remains below the 100-day and 200-day moving averages. Looking at the past few months, the market has continued to create lower peaks, showing an overall downward trend. The sharp sell-off in early February caused significant damage to the chart, and although panic has subsided, buyers have not taken enough action to repair the higher timeframe patterns. Currently, it is worth noting the market's defense capability in the $1800 to $1700 demand area. This area has become the dividing line between market stabilization and further weakening. On the upside, Ethereum continues to encounter resistance near $2150, followed by a supply area at $2400, while the larger bearish axis remains near the higher $2800. Therefore, the market is still attempting to rebound in a larger downtrend, rather than having escaped the downtrend.

ETH/USDT 4-Hour Chart

The 4-hour chart is more constructive. Since bottoming out at the end of February, Ethereum has formed a series of firmer lows, and the upward trend line below the price indicates that buyers are gradually buying on dips instead of allowing another immediate collapse. Momentum has also improved, and the Relative Strength Index (RSI) has recovered and remained in a healthier range, which contrasts with the weakness during the last decline. However, buyers face a clear problem: they have failed to break through the ceiling. The $2150 level has repeatedly limited gains, and until that resistance is broken, the recent gains are more like controlled consolidation than a new breakout. If this level is reclaimed, Ethereum may quickly turn to the next supply band near $2300 to $2400. If it fails to break through, the market may still be trapped in sideways consolidation above the support level.

On-Chain Analysis

The active addresses chart paints a more nuanced picture than pure price action. Recently, network activity has expanded significantly, suggesting that even in the face of weakening market structure, Ethereum still has solid user engagement. This divergence may be important because it suggests that the chain itself did not completely lose engagement during the decline.

However, the latest decline in active addresses also suggests that participation cools as price pressure increases, so the indicator has not yet sent a clear bullish signal. In other words, market sentiment is no longer completely fading, but it is not convincingly strong either. The conclusion is that the underlying activity provides some support for the mid-term recovery theory, although the price still needs to validate this by breaking through resistance.