Ethereum (ETH) surged nearly 3% on Wednesday, reaching the key $2,160 level, as market analyst Ali Martinez identified a potential bullish trend shift. Martinez noted on social media platform X that Ethereum's price action is showing signs of moving from bearish to bullish, supported by an ascending triangle formation on the weekly chart. This pattern, historically linked to bullish continuations, aligns with Ethereum's bounce to $1,800 on February 26. Martinez also highlighted on-chain signals, such as the market value to realized value (MVRV) ratio falling below 0.8, which has previously indicated buy signals. Additionally, the SuperTrend indicator flipped to bullish for the first time since May last year, suggesting a shift in momentum towards buyers. Key resistance levels identified by Martinez include $2,356, $2,647, and $3,639, with longer-term targets at $4,632 and $5,624. Despite these bullish indicators, Martinez cautioned that a full bull market is not yet confirmed.