Analyst Identifies Key Resistance Levels for Ethereum’s Price Recovery

Analyst Ali Martinez identified two resistance levels for Ethereum (ETH) to reclaim for a bullish trend reversal: $2,100 and $2,300. ETH is currently down 49.2% over the past year, contrasting with Bitcoin's 18.5% increase.

Key Resistance Levels

ETH must surpass $2,100 to initiate a potential rally.
A breakout above $2,300 could indicate strong bullish momentum.
ETH previously traded at $2,100 on March 9, reaching a low of $1,754 that day.

Bearish predictions suggest ETH might drop to $1,200 by June 2025 before achieving new all-time highs.

Bullish Divergence Indicators

ETH shows signs of bullish divergence on the daily chart.
The Relative Strength Index (RSI) indicates weakening selling pressure despite lower price lows.
Historically, ETH has rebounded significantly after reaching critical support levels.

Currently, ETH trades at $1,840, reflecting a 2.1% increase in the last 24 hours. However, rising reserves on crypto exchanges may suppress its price further.