Ethereum is still in recovery mode, but the rebound is starting to look more organized than before. The asset continues to outperform February’s benchmark and is approaching a major breakout area, suggesting that buyers are gradually gaining confidence, even if the larger trend has not completely changed yet.
Ethereum Price Analysis: Daily Chart
The daily chart still bears the scars of a widespread downtrend. $ETH is still below the 100-day moving average and the 200-day moving average, both of which are still tilted in favor of sellers on higher time frames. The downward trend from last month still remains, and the market is not out of danger yet.
Still, the picture got better at the last minute. Ethereum has been defending the $1,800 zone for several weeks, but is now once again pushing back towards the short-term resistance area at $2,150. If this ceiling is broken, the next notable upside area is around $2,300 to $2,400, but the much larger barrier remains around $2,800. On the downside, losing the $1,800 support cluster would significantly weaken the recovery narrative and likely lead to another downside capitulation.
$ETH/USDT 4 hour chart
On the 4 hour chart, $ETH It looks more constructive than everyday life. The market has made a series of new lows since the February bottom, and the lower price trendline indicates that bullish buying remains active. This does not guarantee a breakout, but it does indicate that the short-term structure is tilted upward rather than flat or weak.
What matters now is that the test of $2,143 is repeated. Since the asset has reached that level several times, the next reaction is usually important. A decisive move above it could trigger a rapid push into the next supply zone near $2,400 or even higher. However, another rejection will likely continue $ETH A sideways rotation sends it back toward the trendline and the $1,800 support area.
sentiment analysis
Funding data shows sentiment is no longer fearful, but it’s also not overheated. Interest rates are mostly positive, meaning there are long positions, and traders are generally bullish, but the readings are still relatively benign compared to the stronger speculative periods seen in the past.
That’s usually a healthier backdrop than a heavily crowded long market. In other words, emotions are supportive, but not euphoric. This results in $ETH There is room for further upside if the price confirms the breakout, but it also means the market still needs spot follow-through rather than relying on pure leveraged optimism.
