Ether Faces Resistance at $2,650 While Seeking Recovery to $3,000

Ether (ETH) has dropped to its lowest price relative to bitcoin (BTC) since late 2020 amidst market volatility. A potential rebound is anticipated, with the price attempting to recover above $3,000.

Current sentiment is improving as medium and long-term investors enter the market after recent declines.
ETH's relative strength index (RSI) is near 35%, indicating possible oversold conditions that have led to rebounds in the past.
The upcoming Pectra upgrade in March may generate renewed interest in ETH.
The U.S. CPI inflation report could further influence market sentiment if aligned with forecasts of 2.9% or lower.
ETH faces resistance around $2,650, with a breakout potentially pushing prices to $3,000.

Over the past month, ETH has lost 20% of its value. Currently, it is trading at $2,644, down 1.5% in the last 24 hours. A rise back to $3,000 represents a potential gain of 13.5%.