Ethereum is attempting to extend its rebound from the February lows, but the broader structure still reflects a market in recovery mode rather than a confirmed trend reversal. The next sessions should clarify whether this bounce can turn into a sustained move, or if it remains a corrective rally inside a larger downtrend.
Ethereum Price Analysis: The Daily Chart
On the daily chart, $ETH remains within a descending channel and continues to trade below the major moving averages, with both the 100-day MA and the 200-day MA still acting as overhead pressure. This keeps the higher-time-frame bias cautious, as rallies into these dynamic resistance areas often attract supply unless price can reclaim them decisively.
From a level perspective, the first meaningful resistance sits around the $2,350 to $2,450 region, which aligns with prior structure and a visible supply area. A clean daily reclaim and hold above that zone would improve the outlook and put the $2,800 to $3,000 region back in play. On the downside, the $1,800 area remains the key demand zone that previously absorbed heavy selling. Losing it on a daily basis would expose the next lower band around $1,500.
$ETH/USDT 4-Hour Chart
The 4-hour chart shows $ETH stabilizing after the sharp sell-off, but the price action is still capped by nearby resistance, with $2,150 standing out as the immediate pivot. Recent attempts at that level have been met with rejection, suggesting sellers remain active overhead and that buyers still need stronger follow-through to flip the short-term structure.
If $ETH can reclaim the $2,150 level and then hold above it, the next upside path would likely target the $2,300-2,400 area first, as the resistance zone from the daily chart.
If the rejection continues, however, or the price fails to recover after the recent fake breakout, the focus shifts back to the $1,800 region as a short-term support, and then to the $1,600-$1,500 demand area. A break below that demand zone would materially weaken the consolidation setup and raise the odds of a much deeper continuation lower.
Sentiment Analysis
Funding rates have turned mildly positive again, indicating leverage is slowly rebuilding on the long side after the capitulation phase. This is a constructive sign if it comes alongside steady price appreciation, since a balanced funding environment often supports healthier continuation rather than fragile, overlevered pumps.
That said, the market is still vulnerable around key resistance. If $ETH remains capped below $2,150 while funding stays positive, the risk of long positioning becoming crowded increases, which can lead to sharp downside wicks and forced de-risk events. The cleaner bullish scenario is a sustained push above resistance with funding staying controlled, rather than spiking higher, as that would signal demand is driving the move instead of leverage chasing it.
