Ethereum Price Closes in on Major Move as Analysts Expect Breakout or Breakdown

Ethereum's price has been compressing near the $2,000 level, and analysts expect a major move soon.

According to analyst CyrilXBT, Ethereum briefly touched $2,400 in mid-March but trended lower since. The rally failed to produce sustained follow-through, and the price has gradually weakened toward the 200 EMA near $2,104.

The moving average now serves as a thin line of defense, with $1,800 acting as critical macro support below and the $2,300-$2,500 zone capping any upside attempts. A daily close above $2,200 would represent the first credible sign of strength.