Ethereum Rebounds, But Resistance Still Looms

Ethereum’s bounce comes after a sharp drop to $1,821.68 on Feb. 5, when it was deeply oversold with a 14-day RSI of 16.8 and trading below both its 50-day and 200-day moving averages. Since then, the token has recovered roughly 2.9% from that trough, but the recent session also shows how fragile the advance remains: the price is still below the $1,953.53 upper Bollinger Band and well under the levels needed to challenge prior highs.

The move is being supported by a broader improvement in crypto risk sentiment. Adalytica’s Bitcoin Fear & Greed Index is at 94, in “Extreme Greed,” while its awareness reading remains at 2, suggesting attention is still thin even as speculation runs hot. At the same time, the U.S. dollar trade signals show fear, a backdrop that can help dollar-priced assets such as crypto.

For investors, the key question is whether the rally has enough depth to extend beyond a short-covering bounce. Ethereum is still trading below its long-term trend markers and remains vulnerable to renewed selling if momentum fades or Bitcoin stumbles. Coinbase, which tends to trade with crypto activity, also rose to $162.31, but it is still far below its recent highs and has yet to confirm a durable sectorwide breakout.

The latest price action also underscores the gap between a tactical rebound and a structural bull move. Ethereum can keep climbing if institutional demand, whale accumulation and ETF flows remain firm, but the path back to an all-time high likely requires more than one strong session and a cleaner break above resistance.