Could ETH start a strong rebound after hitting $2K?

Ethereum is still in recovery mode, but the recovery seems more organized than before. Assets are holding above the February base and moving closer to a major breakout zone, which suggests that buyers are gradually gaining confidence, even if the larger trend has yet to fully reverse.

Ethereum Price Analysis: Daily Chart

The daily chart still bears the scars of a broad downward trend. ETH remains below the 100-day and 200-day moving averages, and both still have slopes that favor sellers on higher timeframes. The bearish structure from previous months also remains unchanged, so the market is not out of danger yet.

However, the picture has improved at the margin. Ethereum spent several weeks defending the $1,800 area and has now returned to the short-term resistance area of ​​$2,150. If this ceiling is broken, the next top zone to watch is around $2,300 to $2,400, while the bigger barrier remains near $2,800. On the downside, the loss of the $1,800 support cluster will significantly weaken the recovery thesis and likely lead to another round of bearish declines.

4-hour ETH/USDT chart

On the 4-hour chart, ETH looks more constructive than the daily. The market is printing a sequence of higher lows since the February lows, and the uptrend line below the price shows that dip buyers are still active. This does not guarantee a breakout, but it does indicate that the short-term structure is leaning upward rather than flat or weak.

The important thing now is the retest of $2,143. The drug has reached this level several times, which usually makes the next reaction important. A decisive move through it could make a quick push to the next supply zone around $2,400 and possibly higher. However, another rejection is likely to keep ETH on the upside and take it back to the trendline and the $1,800 support zone.

Sentiment analysis

Funding data shows that sentiment is no longer fear, but it’s not overheated either. The rates are mostly positive, which means that long-term positioning is in place and traders tend to lean higher, but the readings are relatively stable compared to the stronger phases seen in the past.

This is usually a much healthier base than a long over crowded market. In other words, the feeling is supportive but not euphoric. This gives ETH the opportunity to move higher if the price is confirmed by a breakout, although this means that the market still needs accurate tracking and not just compressed optimism.