ETHUSD buyers target 2150.00 as technical rebound looms

The ETHUSD currency pair is showing signs of recovery on Thursday, climbing above the $1,600 mark amid a shift in crypto market sentiment driven by several positive catalysts. One key factor was an unexpected 90-day tariff reprieve for several countries, announced by US President Donald Trump. Additionally, the appointment of Paul Atkins as the new SEC Chairman provided further support—Atkins had previously emphasized the importance of establishing a regulatory framework for digital assets.

The fundamental outlook remains mixed. The realized price—a metric tracking the average price at which each coin last moved on the blockchain—still sits above current levels, signaling a capitulation phase. This signals a capitulation phase, with most holders currently at a loss. While such conditions have historically triggered panic selling, they've also frequently marked the turning point for a market recovery.

Despite ETF outflows and declining open interest, massive closing of short positions over the past 24 hours (over $370 million) supports the price and suggests weakening bearish pressure.

Network metrics continue to show a decline. The number of unique wallets and transactions on Ethereum has dropped by 33% and 40%, respectively. Meanwhile, competitors like Solana and Tron are holding relatively steady—or even seeing some growth.

Despite persistent headwinds, these combined signals may suggest the market is approaching a bottom.

From a technical point of view, ETHUSD is forming a descending channel on the daily chart (D1). Current market stress, limited seller liquidity, and a high concentration of short positions, are creating conditions for a technical rebound. Prices are already attempting to rise towards the upper boundary of the channel. On the H4 timeframe, the Bulls Power and Bears Power indicators (default parameters) have flipped into positive territory, confirming strengthening bullish sentiment.

Signal:

The short-term outlook for ETHUSD suggests buying. 

The target is at the level of 2150.000.

Part of the profit should be taken near the level of 1850.000.

A stop-loss could be placed at the level of 1320.000.

The bullish scenario is short-term, so a trading volume should not exceed 2% of your balance.