Can Ethereum Price Rebound Above the $2,652 Mark as Investors Accumulate 65M ETH?

Highlights:

• Ethereum price attempts a recovery, despite a 30% plunge in trading volume.
• Technical indicators show a potential rebound as traders accumulate over 65 million ETH.
• A decisive break above $2,000 would signal renewed strength, potentially triggering a wave of fresh buying.

The Ethereum price is attempting a recovery, soaring almost 1% to $1,910 in the past 24 hours. However, its daily trading volume is still roaming in the red zone, plummeting 30% to $26.06B, indicating a decrease in investor confidence. 

As Ethereum’s price remains below the $2,000 battleground, a well-known analyst, Ali Martinez, has highlighted that ETH faces a key resistance zone between $2,250 and $2,610, where 12.28 million investors accumulated over 65 million. 

#Ethereum faces a key resistance zone between $2,250 and $2,610, where 12.28 million investors accumulated over 65 million $ETH! pic.twitter.com/gEPeRTeYFR

— Ali (@ali_charts) March 12, 2025

However, despite the bearish outlook, the top altcoin shows potential upside, as technical indicators hint at a recovery. Moreover, the recent investor accumulation suggests that the asset is approaching a pivotal moment, where a surge could follow if resistance levels are breached. If buyers gain control, Ethereum may see accelerated upward momentum in the coming days.

Ethereum Price Outlook – Can ETH Price Rebound?

Ethereum price faces downward pressure, trading at $1,910.24 as the broader market attempts to recover. The 50-day MA has crossed below the 200-day MA, as ETH’s price hovers below both moving averages, signaling a sustained downtrend. 

If ETH reclaims $2,276, it could test the first resistance at $2,652, where sellers may attempt to stall recovery. A stronger push beyond this level might open the path to $2,899, but for sustained bullish momentum, ETH must clear the critical $3,116 barrier, a zone where past rallies have struggled.

On the flip side, if the price fails to hold above $2,652, the decline may deepen toward $1,867, which could attract dip-buying interest. A further breakdown could see Ethereum price testing $1,760, marking a critical juncture for bulls to defend.

Can ETH Price Rebound Above the $2,652 Mark?

Ethereum price is facing a challenging road toward reclaiming $2,652 as the broader market remains under pressure. Recent price action has shown signs of exhaustion, with ETH struggling to gain enough momentum for a breakout. With trading volumes declining and sentiment leaning bearish, the path upward appears uncertain. Even if the Ethereum price approaches $2,652, the lack of strong buying pressure could lead to rejection, reinforcing the resistance level as a major hurdle.

However, technical indicators show a mixed reaction, with the odds leaning towards the downside. The MACD remains bearish, with the signal line maintaining its downward slope, suggesting that momentum favours sellers. For any meaningful reversal, ETH must establish support and show signs of accumulation, as broader market sentiment continues to weigh on short-term prospects.

The RSI Divergence indicator upholds a bearish signal, as it currently reads 32.78. This shows intense selling pressure, tilting the odds towards the sellers. However, with the altcoin in the undervalued region, the bulls could initiate a buy-back strategy, causing a rebound in the ETH price. In the meantime, traders should watch for increased volume and momentum confirmation to determine the next primary price direction.