Ethereum Price Surpasses the $2,000 Level – Is $2,400 the Next Target Ahead of Trump’s Digital Asset Summit Speech?

Highlights:

• Ethereum’s price smashes the $2000 mark, currently at $2,010, a 3% increase.
• The trading volume has spiked 86% to $19.96B, indicating heightened market activity.
• Popular crypto analysts say a breach above the $2,400 mark is essential for a bullish flip in ETH.

Ethereum’s price has surpassed the $2,000 barrier, trading at $2,010, a 3% surge in the past 24 hours. The spike in interest is accompanied by the daily trading volume, which has soared 86% to $19.96B, indicating heightened market activity. ETH is now boasting an 8% increase in a week, despite a slight slump of 24% in a month. 

March 19 was a crucial day in the crypto sector, as the crypto community awaited the Fed rate decision. However, Powell left the rates unchanged as Bitcoin and other major altcoins like SOL and ETH continued with the upward movement.

Today, however, it also holds great significance in the crypto market, as the US President, Donald Trump, is set to speak at the Digital Asset Summit. This is because Trump will make important statements about crypto policy, and the crypto community is anticipating a positive outlook for cryptocurrencies.

Trump to Speak at Digital Asset Summit

President Donald Trump will address Blockworks’ Digital Asset Summit on March 20, marking the first time a sitting U.S. president speaks at a crypto conference.

His speech, set for 10:40 AM via video, highlights his pro-crypto stance,… pic.twitter.com/mI9Gy8hKDq

— CryptoRank.io (@CryptoRank_io) March 19, 2025

Meanwhile, as the crypto market awaits Trump’s announcement, popular crypto analyst Ali Martinez has highlighted a potential bullish move in the ETH market. According to Ali, the price of Ethereum must conquer the $2,400 zone to confirm the bullish grip. 

#Ethereum $ETH smashed $2,000 today! But conquering the $2,400 zone is a must for a bullish flip. pic.twitter.com/yzPHu0OoBf

— Ali (@ali_charts) March 19, 2025

Ethereum Price Outlook

Ethereum price is attempting to recover after a prolonged downtrend, trading above the $2000 mark. The price has bounced from the lower channel’s boundary at $1,854, hinting at a possible shift in momentum.

If ETH maintains its level above the $2,000 mark, the first resistance stands at $2,446, followed by a stronger barrier at $2,875. A successful breach above these levels could open the door to $3,000, signaling a more sustained bullish move. However, if ETH struggles to break past $2,446, selling pressure could intensify, keeping the price in a consolidation phase.

On the downside, initial support lies at $1,854, where buyers recently stepped in. If bearish momentum returns, ETH could retest the mentioned support area, and a further decline might push it toward $1,746. 

Can ETH Sustain Above the $2,000 Level?

Ethereum token (ETH) shows early signs of recovery after breaking above the $2000 mark, with buyers stepping in to support the price. The recent bounce from key support levels suggests growing confidence, but ETH must clear critical resistance zones to sustain an upward move. 

The immediate hurdle lies near $2,446, aligning with the 50-day MA. If buyers push beyond this level, a stronger rally could emerge. A decisive breakout above this resistance may propel ETH toward the $2,875 region, a key barrier before revisiting the $3,000 mark. However, market sentiment remains crucial—without consistent buying volume, ETH could struggle to maintain momentum, leading to further consolidation.

A closer look at the RSI shows declining buyer momentum as the sellers gain control. Its position below the 50-mean level suggests that selling pressure could mount if the bulls don’t step in.

On the other hand, the MACD has flipped above the orange signal line, indicating a shift in momentum. This calls for traders and investors to rally behind ETH, as the MACD indicator upholds a buy signal. Should ETH maintain support and gain momentum, a stronger recovery could unfold, though a lack of buying volume may lead to prolonged sideways movement before the next major trend emerges.