Analysts have named important resistance levels for Ethereum ETH $1,865.62 Bridged Ether (StarkGate) 0.53% Market capitalization $0.17 billion VOL. 24 hours $0.78 billion , overcoming which could signal a reversal of the uptrend. In particular, cryptocurrency expert Ali Martinez noted in his post that the leading altcoin needs to gain a foothold above $ 2100 and especially $ 2300 to confirm the change in market sentiment to bullishness.
Despite a slight increase to $ 1840 over the past day, ETH remains in a difficult technical situation. Over the year, the price of the cryptocurrency has fallen by 49.2%, while bitcoin has grown by 18.5%. The last time Ethereum traded near $ 2100 on March 9, it fell to a low of $ 1754, the lowest level in more than a year.
Other analysts have more restrained forecasts. For example, a user with the handle @altcoinrookie predicts that ETH will drop to $ 1200 by June 2025 before a new all-time high phase begins. However, some technical indicators are giving encouraging signals: trader Merlijn The Trader has recorded the formation of a bullish divergence on the RSI index, which may indicate an easing of selling pressure and a potential trend reversal.
A bullish RSI divergence is a technical signal that occurs when the index shows rising lows while the price continues to decline. This pattern usually indicates that sellers are losing strength and growth may resume. In addition, the two-week chart shows that Ethereum has previously bounced off similar support levels on several occasions, followed by growth.
However, analysts also warn that the growth of ETH reserves on centralized exchanges may restrain the price. This may indicate investors' intention to sell assets, which puts additional pressure on the market. So, although the technical signals are encouraging, the further dynamics of Ethereum will largely depend on the general mood of investors and the situation on the crypto market in general.