Ethereum (ETH) has recently shown signs of recovery, with a 2.39% gain over the past 24 hours, making it one of the more promising assets in the cryptocurrency market. Following a period of decline, ETH reclaimed an important support level of $1,574, which has fueled optimism for a potential rally to $1,810. However, the crucial question is whether Ethereum can sustain this upward momentum and break through the resistance at $1,810.

Ethereum’s Recent Price Action and Recovery

After facing a downturn in the past month, where ETH dropped 10.99% on a weekly basis and 14.79% over the month, Ethereum’s recent performance indicates signs of recovery. As of now, Ethereum is trading at around $1,610, marking a daily increase of 2.36%. This upward movement has caught the attention of investors, who are now looking for sustained gains that could push Ethereum’s price higher.

Notably, Ethereum’s market behavior has shifted, as it recently reclaimed the support level of $1,574. According to prominent crypto analyst Ali Martinez, if Ethereum can maintain this crucial support level, it may pave the way for a rally to $1,810. This level is seen as an important resistance zone, and if Ethereum manages to break above it, the altcoin could continue its ascent in the coming weeks.

Strong Demand for Ethereum: Key Indicators Suggest Bullish Sentiment

Several key indicators suggest that Ethereum’s demand is strengthening, which bodes well for the altcoin’s prospects. One of the most notable trends is the shift in Ethereum’s Exchange Netflow. After two consecutive days of positive flows, the netflow turned negative, indicating that more Ethereum is being withdrawn from exchanges than deposited. This is a sign of growing demand, as investors are holding onto their positions rather than selling, which is often seen as a bullish signal.

Moreover, Ethereum’s positive order imbalance further supports the idea of rising demand. A positive order imbalance occurs when more buy orders are executed than sell orders, indicating a strong buying sentiment in the market. This trend suggests that buyers are becoming more active and accumulating Ethereum, which could lead to higher prices in the near term.

In addition to retail investors, whales—large Ethereum holders—are also contributing to the bullish sentiment. The whale netflow to exchange ratio has dropped significantly, from 23.9% to 2.92%. This shift indicates that whales are buying more Ethereum than they are selling, signaling confidence in the asset’s long-term prospects. The reduced movement of Ethereum into exchanges suggests that whales are holding their positions, further tightening the supply.

Ethereum’s Bullish Indicators: Potential Path to $1,810

As demand for Ethereum continues to rise, technical indicators are also providing a positive outlook. Ethereum’s Aggregated Funding Rate has turned positive, indicating that more investors are taking long positions on the altcoin. This suggests that the market sentiment is skewed towards the upside, with most investors expecting prices to rise further.

With growing demand from both retail investors and whales, Ethereum has the potential to test higher resistance levels. If Ethereum continues to rise and successfully breaks through the $1,810 resistance, it could see a move towards $1,800 or even higher. Historically, periods of increased demand and buying activity have led to price surges for Ethereum, making this scenario quite plausible.

However, like any asset in the volatile cryptocurrency market, there is always the risk of a correction. If the bullish momentum fails to sustain, Ethereum could experience a retracement, with support levels around $1,465 serving as a potential fallback point.

Conclusion

Ethereum’s recent recovery and the growing demand from both retail investors and whales suggest that the altcoin could be on track to reclaim higher levels, including the key $1,810 resistance. If Ethereum can maintain its current momentum and keep the support at $1,574 intact, it could experience a breakout towards $1,810 in the coming weeks. However, if the bullish sentiment fades, Ethereum may face a short-term correction. Investors should continue to monitor these key levels as they hold the key to Ethereum’s next major price move.