Ethereum is the second-largest cryptocurrency by market capitalization and is used to create decentralized applications (dApps) and execute smart contracts.
ETH is showing signs of recovery through various technicals and fundamentals from its on-chain data, as well as from future price predictions, which are showing an increase to approximately $2,500 by March 31, 2026. At press time, the coin is trading at $2,111.57 with a decrease of 3.37% over the past 24 hours.
Ethereum Has Consolidated Between $2,050 And $2,300
The TradingView chart shows ETH prices consolidating between a defined support zone ($2,050) and a resistance zone ($2,300). After declining substantially, the price action demonstrates consolidation.
The formation of higher lows indicates strength among the buyers who are gradually building their positions in ETH relative to its previous value.
The overall structure suggests buyers are accumulating ETH, although it is below the major significant resistance zone.
In addition, momentum indicators such as the MACD are beginning to show positive movement, which suggests a possible breakout from its current resistance zone if ETH is able to reclaim $2,300 with sustained volume.
Also Read: Ethereum’s Fast-Confirmation Rule Could Speed Up Transactions in 2026
MVRV Ratio Review Suggests Accumulation Zone
Ali Charts stated on his recent post on X that ETH is currently trading within a historically significant accumulation zone, based on the MVRV Ratio.
The MVRV Ratio data show that, currently, ETH prices are near historically undervalued levels, and this is where previous cycles have signalled the beginning of a bottoming process. The current price action also supports the possibility of a broader recovery phase
The CoinCodex predictive analytics are forecasting that ETH will reach approximately $2,488 on March 30 and $2,527 on March 31, an increase of approximately 16% – 18% based on the projected price increases from the current range breakout.
In conclusion, this forecast depends on a confirmed breakout above $2,300. Ethereum has recently displayed a coordinated signal from both technical indicators and on-chain metrics, suggesting possible upside.
If ETH breaches the psychological level of $2300, then there is an opportunity for growth to $2500 by the end of this month. But considering the price fluctuations and volatility, it is still unclear.
Also Read: Ethereum Foundation Allocates 3,400 ETH to Morpho Vaults V2, Boosting DeFi Engagement
