Ethereum Price Analysis for Mar 17: ETH Bears Pause Rally but Bulls Target $2,337 and $2,538

Ethereum shows strength as bulls maintain control despite selling pressure, with momentum holding while price tests resistance.

Notably, Ethereum ($ETH) trades around $2,324.43, up 3.2% over the past 24 hours, after moving within a $2,242.08 to $2,377.64 intraday range. The chart shows $ETH building steady upward momentum through most of the session, climbing from the low $2,240s to a peak near $2,375 before pulling back.

Even with that retracement, price has remained well above the day’s low, which suggests buyers are still defending the broader move. In the near term, $2,375–$2,380 stands out as the immediate resistance zone, while $2,300–$2,325 now acts as the first support area, followed by stronger support near $2,240.

But after this pullback from intraday highs, can Ethereum gather enough momentum for another breakout?

Can Ethereum Break Out?

On the technical end, Ethereum is showing a strong bullish extension on the daily chart, with price breaking above the upper Bollinger Band near $2,287. This move signals expanding upside momentum and strong buying pressure, but the latest candle also shows bears trying to push $ETH back inside the band.

Ethereum Price Prediction

In technical terms, a breakout above the upper band often reflects strength, yet it can also mark a short-term overextension if buyers fail to sustain follow-through. That makes the $2,287 area the first key level to watch, as a drop back below it would suggest the breakout is losing strength.

At the same time, the Awesome Oscillator remains firmly in positive territory, and its green histogram bars are still building, which shows bullish momentum is intact for now. The broader structure has improved after $ETH reclaimed the Bollinger mid-band near $2,058, and as long as price stays above the upper band or quickly reclaims it after any dip, bulls can keep control.

However, if sellers succeed in forcing $ETH back inside the Bollinger range, the market could shift into a cooling phase or short-term consolidation before the next directional move.

Market Analyst Talks

Crypto analyst Ali Martinez noted that Ethereum has confirmed a bullish breakout after successfully clearing the $2,152 resistance level, a zone that had previously capped upside attempts. According to his analysis, this move signals a clear shift in market structure, with buyers now in control.

Ethereum 4h Chart | Ali Martinez

Martinez highlighted $2,337 and $2,538 as the next key upside targets, suggesting that if momentum holds, Ethereum could continue expanding its current rally.