Ethereum has surged past the $2,000 mark, signaling a potential shift after months of selling pressure. Now trading near $2,084, the asset is showing signs of recovery from its recent 51% drawdown since the December peak of $4,100. Analysts believe that this rebound could be the beginning of a new upward phase—but only if ETH clears key resistance levels ahead.

Key Resistance at $2,150 and Path to Higher Targets

Analysts highlight $2,150 as a pivotal resistance zone. A breakout here could open the way toward $2,800 and eventually $4,000. Crypto strategist @CryptoFeras notes that failure to secure this level may lead to bearish retests, dragging ETH down toward $1,539. Although the RSI has recovered from oversold levels, Ethereum still trades below the 50-, 100-, and 200-day EMAs, underlining the need for confirmation before declaring a full trend reversal.

Institutional Investors Accumulate ETH

Despite the broader downtrend, institutional interest in Ethereum has quietly intensified. The number of wallets holding $100,000 or more in ETH rose from 70,000 to over 75,000 between March 10 and March 22, according to Glassnode. Meanwhile, whales holding between 10,000 and 100,000 ETH have increased their exposure, even as smaller holders reduced positions.

Market Outlook and ETH Price Forecast

Ethereum’s open interest hit a record high on March 21, signaling heightened trader activity. Rekt Capital warns, however, that ETH could lose its bullish structure if it fails to reclaim the $2,200 region. The recent SEC dismissal of its case against Ripple has lifted broader sentiment, and forecasts from VanEck suggest Ethereum could reach $6,000 in 2025 if momentum returns.

For now, all eyes are on $2,150. A clean breakout above this level could confirm a trend reversal and spark renewed confidence across the altcoin market.