Ethereum (ETH) is showing strong bullish momentum as multiple crypto analysts point to key technical indicators suggesting the leading altcoin has bottomed and is preparing for its next major move upward. Recent price action seeing ETH reclaim the $2,040 level has set up a critical test of resistance at $2,160.
Technical Analysis Points to Key $2,160 Resistance Level
Renowned crypto analyst Ben Gray has identified $2,160 as the immediate resistance level Ethereum needs to break for confirmation of its bullish trajectory. His analysis of the 4-hour chart shows ETH currently consolidating between $2,044 and $2,080, with mounting pressure to break higher.
Gray projects an optimistic price range for 2025, targeting between $2,904 and $4,887. While this would represent significant upside from current levels, it’s worth noting this range remains below ETH’s previous all-time high.
Multiple Resistance Levels Stack Up
Adding to the technical analysis, crypto strategist Ali Martinez highlights $2,300 as another crucial resistance zone. The confluence of these resistance levels ($2,160 and $2,300) creates a significant challenge for ETH bulls in the near term.
Evidence of Market Bottom Formation
Several prominent analysts are aligning on the view that Ethereum has formed a bottom. Titan of Crypto points to the weekly Stochastic RSI showing a bullish crossover in oversold territory – a historically reliable bottom indicator for ETH. Their analysis suggests potential upside to $6,000 during this cycle.
Supporting this thesis, analyst Crypto Caesar emphasizes that ETH appears “heavily undervalued” at current levels. Drawing from historical patterns, Caesar notes that bearish sentiment typically peaks just before significant reversals in Ethereum’s price action.
Current Market Status
As of the latest market data, Ethereum trades at $2,022, representing a 2% decline over the past 24 hours. However, the broader technical setup suggests this pullback may present an opportunity for investors positioning for the next leg up.
Frequently Asked Questions
What is the next major resistance level for Ethereum?
The immediate resistance level is at $2,160, followed by a stronger resistance zone at $2,300.
Have we reached the bottom for ETH?
Multiple analysts point to technical indicators suggesting ETH has bottomed, including the weekly Stochastic RSI showing a bullish crossover in oversold territory.
What is the price target for Ethereum in 2025?
According to analyst Ben Gray, Ethereum could trade between $2,904 and $4,887 in 2025, though this remains below its previous all-time high.