Ethereum trades near $2,120 as analysts eye $2,147 resistance for potential rally

Ethereum traded around $2,120 after briefly touching a monthly high near $2,200, with analysts highlighting key resistance levels that could define its next move, CoinGecko data and posts on X show. Crypto analyst Ali Martinez said ETH "looks ready to break out" and argued a sustained close above $2,147 may pave the way toward $2,335 or $2,542, while X users Ted and Investor Jordan pointed to potential upside if the price secures a daily close above roughly $2,150, warning failure could see a return to the $2,000 area. On-chain data from CryptoQuant showed ETH balances on centralized exchanges fell on March 5 to about 15.93 million tokens, the lowest level since summer 2016, while X user Emirhan cautioned a drop below $2,109 could open the door to levels under $1,900 amid an RSI reading recently above 70.