Ethereum Reclaims Realized Price – Bulls Face Strong Resistance At $2,300
Ethereum (ETH) has regained trading above $2,000 after a significant decline, having lost over 38% since late February. The cryptocurrency faced intense selling pressure, dropping below $1,800, which raised concerns of a deeper correction. Market sentiment is shifting, with some investors believing a recovery may be underway. On-chain data indicates Ethereum has reclaimed its realized price at $2,040, suggesting holders are back in profit, which could reduce selling pressure. The $2,000 level is crucial for bulls to maintain upward momentum; failure to hold this support may lead to renewed selling. Analysts highlight $2,300 as the next resistance level, with reclaiming it potentially confirming a trend shift. Ethereum remains in a delicate position, requiring strong buyer conviction to sustain any recovery.
