Ethereum (ETH) has demonstrated resilience by bouncing off the $2,100 support level, recovering to trade around $2,246. This rebound signals potential upward momentum as traders closely monitor key technical thresholds.
Technical analysis indicates Ethereum is at a critical crossroads, with $2,350 emerging as a decisive resistance level. Market participants view this price barrier as essential for confirming a sustained bullish trend.
Maintaining a robust market capitalization of approximately $271 billion, Ethereum continues to assert its dominance within the cryptocurrency ecosystem. The rebound from $2,100 has fueled speculation about a potential rally toward $2,500 or higher, contingent on sustained buying pressure.
Analysts emphasize that reclaiming and holding above the $2,350 resistance is crucial for validating the bullish case. Market volatility remains a key factor as traders assess Ethereum’s ability to capitalize on its recent recovery.