Ethereum retests $2,150 resistance after 20% rally as exchange reserves hit multi-year lows

Ethereum has risen roughly 20% from the mid-$1,700s and is retesting $2,150 resistance, though a pattern of lower highs since late 2025 keeps the structure corrective, CryptoPotato reports. On daily and 4-hour charts, price remains within a descending channel with overhead resistance at $2,300–$2,400 and declining 100-day and 200-day moving averages; a sustained break above $2,150 could open the path toward $2,300–$2,400, while a drop below $2,000 would likely trigger a retest of $1,700. On-chain data show ETH balances on centralized exchanges have declined to multi-year lows; CryptoPotato notes this is consistent with accumulation and could amplify the impact of renewed demand once the current downtrend exhausts.