Ethereum is still in recovery mode, but the rebound is starting to look more organized than before. The asset continues to hold above the February base and is pressing closer to a key breakout area, which suggests buyers are gradually gaining confidence even if the larger trend has not fully turned yet. The daily chart still carries the scars of the broader downtrend. ETH remains below the 100-day and 200-day moving averages, and both are still sloping in a way that favors sellers on the higher timeframe.
The descending structure from the prior months also remains intact, so the market is not out of danger yet. Even so, the picture has improved at the margin. Ethereum has spent several weeks defending the $1,800 zone and has now pushed back toward the $2,150 short-term resistance area again. If that ceiling breaks, the next upside region to watch sits around $2,300 to $2,400, while the much larger barrier remains near $2,800.
On the downside, losing the $1,800 support cluster would weaken the recovery thesis considerably and likely lead to another round of decline capitulation. On the 4-hour chart, ETH looks more constructive than it does on the daily. The market has been printing a sequence of higher lows from the February bottom, and the rising trendline underneath the price shows that dip buyers are still active. That does not guarantee a breakout, but it does show that the short-term structure is leaning upward rather than flat or weak.
What matters now is the repeated test of $2,143. The asset has reached that level several times, which usually makes the next reaction important. A decisive move through it could trigger a fast push into the next supply zone around $2,400 and possibly higher. Another rejection, however, would likely keep ETH rotating sideways and send it back toward the trendline and the $1,800 support area.
Funding data shows that sentiment is no longer fearful, but it is not overheated either. Rates are mostly positive, which means long positioning is present, and traders are generally leaning bullish, yet the readings are still relatively moderate compared to the stronger speculative phases seen in the past. That is usually a healthier backdrop than an aggressively crowded long market. In other words, sentiment is supportive, but not euphoric. This gives ETH room to extend higher if price confirms with a breakout, though it also means the market still needs spot follow-through rather than relying purely on leveraged optimism.
Ethereum remains in recovery mode, with the rebound turning more organized. The asset holds above the February base and is pressing toward a key breakout area, suggesting buyers are gaining confidence even if the broader trend has not fully turned yet. A decisive push beyond the nearby resistance could set the stage for further upside.
The daily chart still bears the scars of the downtrend, with ETH trading below the 100-day and 200-day moving averages that tilt toward the sellers on higher timeframes. The asset has defended the $1,800 zone for several weeks and now targets around $2,150; beyond that, the next upside region sits near $2,300 to $2,400, while a larger barrier remains near $2,800. A break below $1,800 would weaken the recovery thesis and likely lead to renewed declines.
On the 4-hour chart, the structure looks more constructive, with a sequence of higher lows since the February bottom and a rising trendline showing dip buyers remain active. The repeated test of $2,143 makes the next move crucial; a clear breakout could trigger a rapid push toward the $2,400 zone and potentially higher, while another rejection could keep ETH rotating sideways toward the trendline and the $1,800 support. Funding data indicate sentiment is positive but not overheated, with long positioning present and traders leaning bullish, yet readings remain moderate. This backdrop supports a potential extension higher if price confirms a breakout, though spot follow-through remains essential.
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