Could ETH finally break $2,150 after holding key support?

Ethereum is trying to build a base, but the overall picture hasn’t changed enough to call for a real trend change. Assets are holding above the February floor, and that’s important, but ETH is still trading below major upside resistance, leaving the market not in a confirmed bullish phase in a recovery attempt.

Ethereum Price Analysis: Daily Chart

The daily chart is still bearish. ETH remains below the 100-day and 200-day moving averages, and the broader sequence from previous months continues to reflect a market that is making highs within a bearish structure. A sharp sell-off in early February severely damaged the chart, and although the panic has cooled, buyers have done little to repair the higher-dated setup.

What is different now is the market’s ability to defend the demand area between $1,800 and $1,700. That area has become the line that separates stability from new weakness. On the other hand, ETH is facing resistance near $2,150, then the support zone at $2,400, while the larger bearish circle is higher near $2,800. So, for now, this remains a market that is trying to recover in a larger trend, rather than a market that has escaped it.

4-hour ETH/USDT chart

The 4-hour chart is more constructive. ETH has made a series of tighter lows since late February, and the uptrend line below the price indicates that buyers are gradually entering the decline rather than allowing another immediate breakout. Momentum has also improved, RSI is recovering and in a healthier range compared to the weakness seen on the last leg down.

However, buyers have an obvious problem: they do not break the ceiling. The $2,150 level has repeatedly reduced its upside, and until this barrier is cleared, the recent advance looks more like a controlled consolidation than a new impulsive breakout. If this level is recovered, ETH could quickly turn to the next supply point around $2300 to $2400. Otherwise, the market is likely to remain stuck on the upside above support.

Chain analysis

An active address chart paints a more nuanced picture than pure price action. Network activity has expanded aggressively in the recent period, suggesting that Ethereum still saw steady user engagement even as the market structure weakened. This kind of difference can be important because it shows that the chain itself has not completely lost participation in the decline process.

However, the recent decline in active addresses also suggests that participation has cooled due to price pressure, so the metric is not yet giving a clear clear signal. In other words, the feeling is no longer washed out, but it is also not convincingly strong. The takeaway is that the underlying activity is offering some support for the medium-term recovery thesis, although price has yet to confirm it by pushing against resistance.