Ethereum is trading back above the key $2,000 level after spending several volatile weeks attempting to reclaim it. Since late February, ETH has dropped more than 38%, triggering widespread panic as the price broke below major support and briefly dipped under $1,800. The decline sparked fears of a prolonged downtrend, with many questioning whether Ethereum had entered a bear market.

Related Reading

However, sentiment is beginning to shift. Investors are now looking for signs of recovery as ETH stabilizes and retests important levels. A growing number of analysts believe that the recent volatility may have been a final shakeout before a new uptrend.

Top analyst Ted Pillows shared insights on X, suggesting that Ethereum may be wrapping up its “manipulation phase.” This phase typically features erratic price action designed to exhaust both bulls and bears before the market commits to a clear direction. If the phase ends soon, Ethereum could rebound significantly in the coming weeks.

As ETH hovers near $2,000, the next few sessions will be crucial in determining whether bulls can maintain momentum or if further downside lies ahead.

Ethereum Bulls Face A Test As Expansion Phase Looms

Ethereum is showing early signs of strength as it hovers just above the critical $2,000 mark, a level that has acted as both a psychological and technical battleground for weeks. Bulls are being called into action as the broader market begins to stabilize, with ETH price action hinting at a potential recovery. However, the situation remains fragile, with uncertainty dominating sentiment and no clear trend established yet.

Speculation is split between those anticipating a deeper correction and others betting on a full-scale recovery. For now, Ethereum remains range-bound, and any breakout attempt must be backed by strong conviction to shift momentum. Bulls must defend the $2,000 level and begin targeting higher resistance zones to spark confidence in a sustained uptrend.

Pillows stated that Ethereum is likely exiting what he calls the “manipulation phase” — a confusing, price movement designed to exhaust buyers and sellers. According to Pillows, this phase is nearly over, and Ethereum’s expansion time is about to begin.

A confirmed breakout above the $2,200 level would be the catalyst for a new expansion cycle, potentially sending ETH into higher territory in the weeks ahead. Until then, price action will remain sensitive, with the next few sessions crucial in deciding Ethereum’s trajectory.

Related Reading

But Bulls Face Key Resistance Ahead

Ethereum is currently trading at $2,070 after managing to reclaim the $2,000 level—a crucial psychological and technical zone that had acted as resistance in recent weeks. This move marks an important step for bulls who are now trying to solidify momentum and prevent further downside. However, the real test lies ahead, as ETH must reclaim the $2,250 level to initiate a true recovery phase.

The $2,250 mark aligns with previous areas of heavy trading activity and could act as the launchpad for a broader uptrend if bulls manage to flip it into support. Successfully retaking this level would likely attract fresh demand and restore investor confidence, especially after the asset shed more than 38% of its value since late February.

Related Reading

Despite the short-term optimism, downside risks remain. If Ethereum fails to hold above $2,000, the market could experience renewed selling pressure, potentially pushing ETH back toward the $1,800 support level. Such a drop would reinforce bearish sentiment and delay any potential recovery rally.

For now, traders are watching closely to see if Ethereum can build on its current strength and reclaim higher levels in the sessions ahead.

Featured image from Dall-E, chart from TradingView 

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ethereum (ETH) registered some minor gains in the past week, rising by 2.80%. Nevertheless, the prominent altcoin remains far from breaking out of a downtrend stretching as far back as December. Amid this bearish market state, renowned market analyst Ali Martinez has highlighted critical price levels in deciding if ETH’s correction is over and suitable for a market entry.

Ethereum: A Buying Opportunity Or More Downside Ahead?

In a detailed analysis post on X, Martinez explains that Ethereum has crashed by 57% from its local peak of $4,100 in December. This decline has been attributed to a widespread distribution by large Ethereum holders, especially the whales. Over the past four months, wallets holding 10,000 ETH have declined by 80. Meanwhile, ETH whales i.e. wallets holding 100,000 ETH and above, have offloaded 130,000 ETH within this period.

During ETH’s decline, the Ethereum Spot ETFs have also suffered massive withdrawals as indicated by a net outflow of $760 million in just the last month. Furthermore, investors have transferred 100,000 ETH to investors with intentions to sell in fear of a price loss.

Looking forward, Martinez notes several technical indicators further suggest a downside for Ethereum amid this intense selling pressure. For example, a breakdown from an ascending triangle on the 3-day charts suggests ETH may be headed for a price target of around $1,000.

Meanwhile, the ETH pricing bands have also highlighted $1,440 as another downside target indicating a potential 27.4% decline from current market prices. Interestingly, data from the Cost Basis Distribution correlates with both bearish projections as Ethereum is currently above key support at $1,887. However, a price fall below this level will result in a further decline to lower targets such as $1,440, $1250, and $1,000.

Albeit, Martinez notes there is potential for an ETH market recovery. By analyzing the amount of ETH acquired at each price level, the analyst notes that ETH bulls are facing a serious resistance between $2,250-$2,610. If ETH bulls can push past this resistance, it would invalidate the current bearish market outlook.

Ethereum Price Overview 

At the time of writing, Ethereum was trading at $1,985 reflecting gains of 1.10% in the past day and 2.10% in the past seven days. However, the altcoin is down by 27.32% in the last month. Being the largest altcoin in the market, Ethereum boasts a market cap of $239 billion representing 8.7% of the total crypto market.

Featured image from Ledger Insights, chart from Tradingview

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ethereum’s price action has been one of the most disappointing features of 2025. The “king of altcoins” recently slipped below $2,000 for the first time in over a year. However, the latest on-chain data shows that the fortunes of the second-largest cryptocurrency might be about to change.

Here’s Why ETH Price Could Rebound From Current Lows

In a recent post on the X platform, popular YouTuber Crypto Rover revealed that significant amounts of Ethereum have been flowing out of cryptocurrency exchanges in the past few weeks. This on-chain observation is based on changes in the “Ethereum Exchange Reserve” metric, which tracks the total amount of ETH tokens on all centralized exchanges.

An increase in the value of the Exchange Reserve metric suggests that investors are moving their assets to wallets affiliated with these centralized platforms. This is usually considered a bearish signal for the asset, as selling is one of the main reasons investors send their coins to centralized exchanges.

On the other hand, when the metric’s value declines, it implies that more assets are flowing out of the centralized exchanges. This trend could signal fresh buying from investors or renewed interest in long-term holdings, which could be bullish for the asset price.

Interestingly, a separate on-chain revelation shows that Ethereum whales have been loading their bags in the past few days. Data from Santiment shows that whales holding between 1,000,000 and 10,000,000 tokens have purchased over 120,000 ETH tokens in the last 72 hours.

Source: @rovercrc on X

As shown in the CryptoQuant chart above, the Ethereum Exchange Reserve has fallen to a new all-time low of 18.3 million ETH tokens. This is a positive sign for the Ethereum price, as increased allocation to self-custodial wallets signals an elevated confidence in the asset’s long-term potential. 

Crypto Rover noted that if the Ethereum reserves on centralized exchanges continue to dwindle, the altcoin could experience a “supply shock” — or more fittingly a supply crunch. For context, a supply crunch refers to a decline in the amount of an asset available for purchase, leading to a jump in prices.

Ultimately, this fall in Ethereum supply on centralized exchanges could act as a significant catalyst for ETH’s price recovery.

Ethereum Price At A Glance

As of this writing, the price of Ethereum stands at around $1,990, reflecting a 0.6% increase in the past 24 hours.

The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView

Featured image from iStock, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.