Ethereum Faces Key Resistance Levels at $2,100 and $2,300 for Bullish Reversal

Cryptocurrency analyst Ali Martinez identified two key resistance levels that Ethereum (ETH) must reclaim to confirm a bullish trend reversal. Martinez highlighted that ETH needs to surpass $2,100 and more decisively, $2,300, to reverse its price trajectory. These levels are crucial for Ethereum to regain bullish momentum. ETH last traded at the $2,100 level earlier this month on March 9, and it also plunged to as low as $1,754 on the same day, its lowest price in more than a year. After reclaiming $2,100, ETH will need to overcome the more significant $2,300 resistance level. A clear breakout above $2,300 could signal renewed bullish momentum.

Meanwhile, altcoin analyst @altcoinrookie shared a bearish forecast for Ethereum, predicting that ETH will dip to $1,200 by June 2025 before reaching new all-time highs (ATHs).

Crypto trader Merlijn The Trade provided a more optimistic outlook, noting that ETH is displaying bullish divergence. The RSI is a momentum indicator that helps traders and investors determine when the underlying asset may be overbought or oversold. RSI bullish divergence occurs when the RSI forms higher lows while the price forms lower lows, indicating weakening selling pressure and a potential trend reversal to the upside. Merlijn also shared a two-week ETH price chart, highlighting how Ethereum has historically rebounded from a critical support level since early 2024, often posting significant returns after each bounce.

However, rising ETH reserves on crypto exchanges remain a concern, potentially extending ETH’s price suppression. At the time of reporting, ETH trades at $1,840, up 2.1% in the past 24 hours.