Ethereum Faces Crucial Test at $2000 Resistance Level

Ethereum has been making steady gains, up more than 25% in just 30 days after hitting a low of below $1500. The recovery started after the June correction and turned bullish afterward.

The price broke above the $1800 level, but it's facing major resistance at the $1900-$2000 zone. This area initially acted as support before turning into a strong resistance area.

A daily candle close above this zone would confirm a bullish breakout and lead to more long positions being opened.

The Relative Strength Index (RSI) remains above the neutral zone, suggesting upward movement is intact without entering the overbought zone. However, Cumulative Volume Delta (CVD) remains relatively weak, indicating aggressive buying is needed to support price recovery.

If Ethereum can break through this resistance level, it could push the price towards $2500.