ETH Price Stalls Near $2,000 as Analysts Expect Major Move

Ethereum is currently compressing into a narrow band near the $2,000 level, according to analysts who expect a major move in the coming days. CyrilXBT noted that ETH briefly touched $2,400 in mid-March but has trended lower since.

The rally failed to produce sustained follow-through, and the price has gradually weakened toward the 200 EMA near $2,104. This moving average now serves as a thin line of defense.

Analyst Minga framed ETH as trading within a high-timeframe range defined by the 2021 all-time high on the upper end and the 2022 bear market low on the lower end.