Ethereum is struggling to break through the $2,150 resistance level, despite efforts to establish a base above the February lows. The cryptocurrency remains below its 100-day and 200-day moving averages, indicating a continued bearish trend. While the market has stabilized above the $1,800 to $1,700 support zone, ETH has yet to confirm a bullish reversal. On the 4-hour chart, Ethereum shows signs of recovery with firmer lows since late February and improved momentum indicators. However, the $2,150 resistance remains a significant barrier, preventing a breakout. On-chain analysis reveals that while network activity has been robust, recent declines in active addresses suggest mixed sentiment. For Ethereum to confirm a recovery, it must overcome the $2,150 resistance and target the $2,300 to $2,400 range.