Ethereum is quoted at low levels after not recovering the $ 2,500 brand, leaving the uncertain market on its next movement. Analysts remain divided, and some ask for a continuous fall, since ETH price action remains unstable, while others see signs of a potential recovery that are formed at key support levels.
The superior analyst Ali Martínez shared data in the Glassnode chain, revealing that the number of Ethereum addresses that has more than 10,000 ETH has fallen to 919, below 999 at the end of February. This suggests that whales have been selling largely during the last correction, probably driven by fear and liquidity problems. The capitulation of the great players is often a bearish sign, pointing out the uncertainty among institutional investors and raising concerns about higher downward risk.
Despite this sales wave, Ethereum has had a key demand level of around $ 2,200, suggesting that it could be forming a possible investment. If ETH manages to stabilize at this level, it could generate impulse for a rebound in the coming weeks.
The next few weeks will be crucial for the action of the ETH price. If the bulls recover control, Ethereum could try another thrust towards $ 2,500 and more. However, the lack of retention of current levels could lead to another leg down, extending its bearish phase and keeping merchants to the limit.
Details of the price action: key levels to see
Ethereum (ETH) is currently traded at $ 2,300, caught in a range after not keeping over $ 2,500 or breaking below $ 2,000. The market remains uncertain, with the volatility that increases the price of ETH up and down, preventing a clear trend from being formed.
In order for bulls to confirm a recovery rally, a thrust is essential above the range of $ 2,500- $ 2,600. Claiming this area would indicate a strong impulse of purchase, potentially changing the feeling in favor of bulls. Without this movement, Ethereum remains at risk of continuous consolidation or another leg down.
However, for now, the main approach is to have the demand level of $ 2,200. This key support zone has prevented ETH from breaking, but if it fails, selling pressure could be intensified, pushing Ethereum towards the levels of less than $ 2,000.
With the uncertainty of the still high market, merchants observe whether ETH can stabilize above $ 2,200 or gain impulse towards higher resistance levels. Until Ethereum out of its current range, volatility is expected to continue, maintaining bulls and cautious bears on the next most important price movement.
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