Ethereum (ETH) is recovering from the recent dip and trading back over the $2,100 mark. It has the potential to rise even more if the trend continues, which may lead to a short-term rally. However, the impact of the sellers is keeping the trend balanced.

At the time of writing, Ethereum is trading at $2,119.44, with a 24-hour trading volume of $14.65 billion and a market capitalization of $255.60 billion, according to CoinMarketCap. The ETH has gained 2.07% over the past 24 hours.

Ethereum Shows Signs of Recovery

On March 15, 2026, crypto analyst Ted pointed out that Ethereum had gone back above the $2,100 price level, which could be indicative of a possible rally for the cryptocurrency in the coming days. The next resistance for ETH will be at the $2,150 price level, as noted by Ted.

Once ETH clears this region, the cryptocurrency might aim for the $2,300 and $2,400 regions in the near term. It should be noted that this might be the last rally before the market tests the lower regions once more.

Technical Indicators Show Challenges Ahead

Although Ethereum has recovered somewhat, it remains under bearish pressure. The RSI is at 35.87, which is lower than the 38.36 signal, indicating low purchasing power. ETH is still trading under major MAs, including the 20-week at $2,754.20, the 50-week at $3,044.78, and the 100-week at $3,005.40.

The current trend is also confirmed by the MACD line, which indicates a continued downward trend. The line is currently at -394.89, and the signal line is lower at -287.31, while the histogram is near -107.58.

The bears are ahead in the current trend, but the diminishing size of the red bars suggests a possible respite for the bears and a minor relief for the stock.

Also Read | Ethereum (ETH) Approaches Crucial $2000 Support, Eyes $2,500 Breakout

ETH Prepares For Short-Term Rally

To take the Ethereum market to the next level, it is important to break the $2,150 resistance. If the price is able to sustain at the next level, the price may rally to the $2,300 to $2,400 region.

If the ETH price falls below the current support, it may pull back. The support and resistance levels should be observed, as the next phase depends on the current market.

Overall, Ethereum is looking stable, and the market is taking a cautious approach. The next few days will show whether Ethereum can sustain its momentum or not.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read | Ethereum Foundation Sells $10.38M in ETH via OTC Deal