ETH price needs to reclaim the “macro” range above the $2,000 mark to amass more upside momentum

Ether (ETH) price is down over 50% during its three-month downtrend after it peaked above $4,000 on Dec. 16, 2024

Ether price needs to reclaim the “macro range” above the $2,200 mark to amass more upside momentum as crypto markets remain pressured by global macroeconomic concerns until at least the beginning of April, a popular crypto analyst says.

Ether (ETH) price is down over 51% during its three-month downtrend after it peaked above $4,100 on Dec. 16, 2024, TradingView data shows.

ETH/USD, 1-day chart. Source: Cointelegraph/TradingView

To stage a reversal from this downtrend, Ether price needs to reclaim the “macro range,” which is the area where it encountered strong buying pressure during previous bull markets, wrote crypto analyst Rekt Capital in a March 19 X post.

ETH/USD, monthly chart. Source: Rekt Capital

This range is located between $1,800 and $2,200, and it could be a key level for determining the next major trend in Ether price.

If Ether can break above this range and close a monthly candle above $2,400, it could set the stage for a continuation of the bull market.

However, if Ether fails to break above this range and closes the monthly candle below $1,800, it could signal that the bear market is not yet over.

In the short term, Ether price may face resistance at the 50-day moving average, which is currently around $2,000.

If Ether can break above this level of resistance, it could rally towards the next major Fibonacii retracement level at $2,400.

However, if Ether fails to break above the 50-day moving average, it could fall towards the next major support level at the 100-day moving average, which is currently around $1,600.

Some analysts expect traditional and cryptocurrency markets to be pressured by global trade war concerns until at least the beginning of April, when countries may find a resolution to the retaliatory tariffs.

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