Ethereum eyes $2,400 after reclaiming $2,000, bulls cautioned

Ethereum (ETH) is showing strong bullish momentum, climbing to about $2,069 after rebounding from near $1,990 support. 

The asset is currently up about 3.07% daily and roughly 6.2% over the past week, reflecting renewed buying pressure. 

The sharp recovery and steadily higher highs suggest bulls are regaining control and pushing price toward the $2,070–$2,090 resistance zone.

Meanwhile, 24-hour trading volume sits around $22.8 billion, signaling strong liquidity and active trader participation. 

If momentum continues, ETH could attempt a breakout above the recent highs.

Ethereum’s short-term rally faces a critical $2,150 test

According to analyst TedPillow, the next key confirmation level sits at $2,150, where a daily close above this resistance could signal stronger bullish momentum. 

Such a move would suggest buyers are regaining control after the recent decline, potentially setting the stage for a short-term recovery.

$ETH has reclaimed the $2,000 level.

Now, Ethereum needs a daily close above the $2,150 level for a rally towards $2,400.

After that, there's a decent chance that ETH will dump towards new lows. pic.twitter.com/5ZjMsk4I6W

— Ted (@TedPillows) March 10, 2026

If ETH manages to close above $2,150, the next upside target could appear near the $2,400 resistance zone highlighted on the chart. 

However, TedPillow warns that the rally may only be temporary, as heavy resistance around that region could trigger another wave of selling pressure. 

Should that rejection occur, Ethereum could reverse course and move toward new lows as the broader downtrend remains intact. 

Ethereum tests $2,048 support as weekly structure turns

Ethereum is trading near $2,048 while testing a major long-term ascending support line on the weekly chart. 

Analysis by CryptonautX is showing this level repeatedly acting as a structural base during past market declines. 

The support previously triggered strong reactions after pullbacks. The current retest places ETH at a critical technical zone.

My view is ETH is sitting on a major long term support line.
This is a key area. If it holds, $ETH can still bounce and rebuild. If it loses this level on the weekly, I think the structure starts looking weak.#IranIsraelUS pic.twitter.com/yIPdMjgrkJ

— CryptonautX (@CryptonautX_) March 10, 2026

If the support near $2,000–$2,050 holds, Ethereum could rebound from around $2,048 and rebuild upward momentum. 

The level may allow the price to stabilize and recover toward higher ranges. However, a weekly close below this support would weaken the broader structure. 

Analysts warn that losing this level could increase downside pressure.

Technical analysis

Looking at the 1-day Ethereum price chart, the token is trading at $2,068, up by 3.77%. The price is recovering slightly after moving sideways near $2,000. 

Recent candlesticks show mild upward momentum, but overall market sentiment remains cautious.

The MACD indicates bullish momentum, with the blue line crossing above the orange signal line. 

The relative strength index (RSI) sits at 50.61, suggesting neutral-to-slightly-positive momentum, hinting at potential continuation if buyers hold.