Ethereum price prediction: ETH rebounds 7% for the second time in two weeks
Ethereum price has faced intense volatility, with a sharp decline of nearly 10% pushing the cryptocurrency back to the critical $2,000 support level.
This marks the second time in two weeks that Ethereum has tested this psychological threshold, raising concerns that the support could be weakening. However, Ethereum rebounded by 7% during the Asian and European sessions, reaching $2,161 before retracing to $2,085.
The recent price drop came alongside uncertainty stemming from U.S. President Trump’s executive order establishing a Strategic Crypto Reserve. While initially expected to boost market sentiment, the move introduced more uncertainty, leaving investors unsure of its long-term implications for the broader crypto market. As such, market-wide risk aversion has weighed on Ethereum’s price, exacerbating the decline.
Ethereum price outlook: On-chain data hints at bullish accumulation despite bearish RSI
Technically, a bearish order block around $2,200 now acts as a key resistance level, reinforced by the 50 EMA on the 4-hour chart. This indicates that any short-term recovery could struggle to break through this resistance zone. In addition, Ethereum’s Relative Strength Index (RSI) remains in bearish territory but is not yet oversold, suggesting there could still be room for further downside.
Ethereum price dynamics (Feb 2025 - March 2025). Source: TradingView.
Despite the price weakness, on-chain data presents a bullish counterpoint. Santiment’s data shows that 330,000 Ethereum were withdrawn from exchanges over the weekend, reducing available supply and signaling potential long-term accumulation by investors. Historically, such large exchange outflows indicate reduced selling pressure, which could support price stabilization or recovery.
However, if selling pressure resumes and Ethereum loses the $2,000 support, the next leg down could accelerate further declines. The strength of this support will be a crucial factor in determining the short-term direction of Ethereum.
Improved liquidity in the crypto market fueled a 16% Ethereum rally before sentiment weakened. The rejection at the 50 EMA triggered a drop to $2,105, where it found support.
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