Ethereum Price Analysis: Can ETH Break $2,000 This Weekend?

Ethereum Price Set to Rebound? Key Levels to Watch This Weekend

Ethereum Price Analysis – Despite Ethereum’s (ETH) recent struggles in the 2025 crypto market cycle, whales continue to make significant moves. Analyst Ali Martinez reports that Ethereum whales have accumulated over 420,000 ETH—worth approximately $811 million—in the past five days, signaling strong interest despite the asset’s current underperformance. Ethereum has seen a 10.35% drop in the last week, contributing to the uncertainty surrounding the asset.

Ethereum Faces Mixed Market Signals

In addition to the whale accumulation, there are signs of mixed market sentiment. US Spot ETH ETFs recorded $35.30 million in outflows on Friday, with BlackRock’s ETHA seeing the highest outflows at $36.37 million, according to SoSoValue. This underscores the volatility and mixed signals affecting the price and investor sentiment toward Ethereum.

Ethereum’s Pectra Upgrade and Testnet Developments

On the development front, Ethereum is preparing for its Pectra upgrade, aimed at enhancing scalability and staking flexibility. The Hoodi testnet is scheduled to launch on March 17, following previous testnets like Holesky and Sepolia, which faced challenges, particularly with invalid blocks. If successful, Pectra could go live on the Ethereum mainnet as early as April 25. The upgrade is expected to enhance Ethereum’s Layer-2 storage capacity and reduce transaction fees, critical steps toward improving network efficiency.

ETH Price Analysis: Key Levels to Watch

As of now, ETH is trading at $1,930.19. Technical indicators suggest the Relative Strength Index (RSI) is around 33.29, indicating that ETH is nearing oversold territory. Looking ahead, the price could potentially retest the $2,000 level, based on the daily chart. Additionally, the Bollinger Bands show ETH trading near the lower band at $1,741, with potential support at this level. If buying momentum picks up, ETH could bounce toward the middle band at $2,157 or the upper band at $2,574. A critical resistance level for ETH is the 20-day Exponential Moving Average (EMA) at $2,154, which the price must break above to confirm bullish momentum. This weekend’s trading is expected to be pivotal in determining Ethereum’s short-term direction.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.