For a bullish reversal to be confirmed, ETH must break through strong resistance at $2,300; failure to do so could lead to continued consolidation or further declines.

As of the latest update, ETH is trading at $2,007, reflecting a slight drop of 0.5% in the last 24 hours.

Crypto analysts predict that ETH is currently in a consolidation phase and may break out after April, with long-term price targets reaching as high as $10,000.

Google Trends data reveals that retail interest in ETH has reached its lowest levels compared to previous peaks in 2017 and 2021, indicating investor hesitance.

Historically, such low retail sentiment can signal a buying opportunity for institutional investors, who tend to accumulate assets before price surges.

Currently, retail sentiment toward Ethereum (ETH) is low, according to analysts, despite the cryptocurrency's potential for a significant price breakout.

However, technical indicators, such as a bullish crossover on Ethereum's weekly Stochastic RSI, suggest that ETH might be nearing the end of its bearish cycle, indicating a possible rally.

Analysts point to potential catalysts for Ethereum's recovery, including the anticipated approval of an Ethereum exchange-traded fund (ETF) and the upcoming Pectra update.

On-chain metrics, like the Market Value to Realized Value Z-score, hint that Ethereum may already be undervalued and primed for accumulation.

Contrarily, analyst Ali Martinez maintains a cautious outlook, predicting that ETH could decline to the lower end of its price range at $1,300.