In an X post shared today, acclaimed cryptocurrency analyst Ali Martinez identified two key resistance levels that Ethereum (ETH) must reclaim to confirm a bullish trend reversal. Additionally, ETH is showing signs of bullish divergence on the daily chart, raising optimism among holders that a rally may be closer than expected.<\/p>\n
Unlike rival cryptocurrencies such as Bitcoin (BTC), Solana (SOL), and XRP, ETH\u2019s recent price action has disappointed most of its holders. The second-largest cryptocurrency by market capitalization is down 49.2% over the past year, in stark contrast to BTC\u2019s 18.5% gain over the same period.<\/p>\n
Sharing the following daily chart, Martinez highlighted two critical resistance levels that ETH must surpass to reverse its price trajectory. The analyst stated:<\/p>\n
Ethereum $ETH needs to reclaim $2,100, and more decisively, $2,300, to confirm a bullish trend reversal. These are the levels to watch!<\/p>\n
To recall, ETH last traded at the $2,100 level earlier this month on March 9. Interestingly, the digital asset also plunged to as low as $1,754 on the same day, its lowest price in more than a year.\u00a0<\/p>\n
After reclaiming $2,100, ETH will need to overcome the more significant $2,300 resistance level. A clear breakout above $2,300 could signal renewed bullish momentum.<\/p>\n
Meanwhile, altcoin analyst @altcoinrookie shared a bearish forecast for Ethereum, predicting that ETH will dip to $1,200 by June 2025 before reaching new all-time highs (ATHs).<\/p>\n
While these analyses suggest short- to mid-term challenges for ETH, crypto trader Merlijn The Trade provided a more optimistic outlook. The analyst shared the following ETH daily chart, noting that the asset is displaying bullish divergence.<\/p>\n
For the uninitiated, the RSI is a momentum indicator that helps traders and investors to determine when the underlying asset may be overbought or oversold<\/a>. RSI bullish divergence occurs when the RSI forms higher lows while the price forms lower lows, indicating weakening selling pressure and a potential trend reversal to the upside.<\/p>\n The trader further pointed out that although ETH\u2019s price continues to make lower lows, its daily RSI is forming a contrasting trend. Merlijn also shared a two-week ETH price chart, highlighting how Ethereum has historically rebounded<\/a> from a critical support level since early 2024, often posting significant returns after each bounce.<\/p>\n