Just yesterday, the market seemed to have amortized Ethereum, and even optimistic analysts lost hope. However, on the classic crypto turnaround, Ethereum surged, regaining its $2,000 mark.
With prices exceeding this key level, the question investors are asking is how much Ethereum will be realistically higher on March 21st.
Key pricing levels for monitoring Ethereum
Despite this recent bounce, Ethereum’s overall price structure is still bearish. While the current recovery is underway, Ethereum is testing key support levels, and the broader trends still face downward pressures.
Ethereum previously saw it buy interest at a high of $1,800. If the current upward momentum continues, resistance can be encountered in the $2,100 to $2,200 range.
If Ethereum can break through this zone of resistance decisively and establish it as new support, market sentiment could shift towards a more bullish outlook.
Source: CoinMarketCap
A break above $2,200 will naturally lead to $2,500 or $2,800 in the next few days. However, if Ethereum is not stable beyond its current level, the next support could fall to the $1.5,000 mark. Currently, Ethereum’s RSI is 40.4, indicating a neutral condition.
Related: Which has the potential for large profits? ETH, SOL, ALGO, DOGE, AVAX, TON
ETH Whale Activities
Three large investors, or “Whale,” have withdrawn a substantial amount of Ethereum (14,217 ETH, worth around $28.95 million) from the Binance Exchange as ETH prices rose above $2,000. After these withdrawals, the same whales borrowed USD 12 million (Tether, Stablecoin) from Aave, a decentralized lending platform.
The three whales jointly withdraw their $14,217 ETH ($28.95 million) from #Binance for an average price of $2,036 over the last nine hours as they revived $2,000.
I then used it to borrow 12m$USDT with #aave, then I reverted Stablecoins to #Binance and #OKX.
A bullish move? Follow me…pic.twitter.com/2rsm0h2q2o
– March 20, 2025, spots from the chain (@spotonchain)
They then reverted the USDT to exchanges like Binance and OKX. This move can be bullish as this suggests that if you let go of ETH and take ETH, the whale holds it.
Larger holders have been getting more active since mid-March, according to IntotheBlock. The influx from large-scale holders jumped from 197,370 ETH on March 16 to 910,810 ETH by March 18, while the outflow increased from 198,960 ETH to 438,360 ETH. This was the highest net ETH flow in the last three months.
Related: Vitalik’s Crypto Shuffle: Creating Dai and Trading Meme Coins – Another day for the masterminds of Ethereum?
This surge in whale activity also coincided with an increase in exchange outflow, leaving more ETH than ETH entered, indicating an increase in demand with the whale movement.
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