• Having bottomed near $1,600 after over a 50% drop from October’s highs, Ethereum is showing its earliest indications of recovery.

• The technical analysis indicates renewed buying interest with the next potential breakout at the $2,100 level.

• On the daily chart, RSI and MACD indicators indicate an improvement in momentum that could lead to a bullish trend reversal.

After a vicious 50% price decline from its 2025 highs, Ethereum (ETH) is beginning to bounce back. Clicking through to X (Twitter), we see where analyst Michaël van de Poppe recently tweeted that Ethereum is “holding above the crucial level” and has begun to bounce up.

He added that this could potentially be the beginning of a decent upside move with ETH possibly moving up towards $2,100 within the next one to two weeks.

The chart attached to van de Poppe’s tweet paints a clearer picture of Ethereum’s possible surge. From the chart, we can observe how Ethereum went into a steep downtrend toward the end of 2024, bottoming in April 2025 near $1,600. 

This zone temporarily fell ‘below’ (deviated), from its role as a major support level, although ETH bounced back above it.

Source: X @CryptoMichNL

This kind of movement often leads to the conclusion that sellers have become exhausted, and buyers may spiral out of control. The highlighted region on the chart where ETH bounced back is labeled as an “interesting level to step into positions,” or a sign that buying interest has increased.

On the chart, ETH has reclaimed this old support level, having turned it into an upside base. This is often a buy signal. As shown in the chart, the next target is about $2,100, and this level signifies a meaningful technical price point for ETH to challenge if the bullish momentum persists. 

Resistance is expected at this level; yet if it breaks, it could be the start of a wider trend change.

The ETH/USD chart from TradingView supports this optimistic viewpoint about Ethereum. At present, Ethereum is trading at almost $1,836. The chart shows a long downtrend that’s followed by a relatively stable period with price candles moving sideways.

Source: TradingView

Most of the time, this will lead to a breakout in any direction. However, there are also some key indicators that signal the asset could be headed upward.

Looking at the volume bars, selling pressure has decreased with some green bars gradually appearing, thus indicating buying interest. Currently, the RSI is in the bearish zone, close to 36; however, it is in the midst of recovery away from oversold levels earlier on.

Below the RSI, a crossover of the blue MACD line and the orange signal line in the MACD indicator is close. Often, this kind of movement is seen as a positive sign of price action to come. Even though the MACD is weak and remains just below the zero level, the histogram indicates that bearish momentum is deteriorating.