Ethereum tests $2,300 as analysts highlight resistance and falling open interest

Ethereum is approaching a key technical threshold after several weeks of downward movement, as buyers attempt to regain control of the market. With the price hovering near $2,300, traders are watching closely to see whether the current rebound will evolve into a broader recovery or if it will stall below resistance during the prevailing correction. Ethereum (ETH) was trading at $2,289.88 at the time of reporting, marking a 1.62% increase over the previous 24 hours. The latest uptick comes as investors assess reduced derivatives activity, resolved short-term price action, and critical resistance points likely to shape ETH’s next move. Crypto analyst Ted Pillows, appearing on X, identified ETH’s recent strength and signaled that the asset may be nearing a price reversal.

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