Famous cryptocurrency analyst Michaël van de Poppe recently provided a positive outlook on Ethereum (ETH) through a post on platform X on May 17, 2025. According to him, any price below $2,400 is a 'bargain' after ETH strongly rebounded from the previous low near $2,000. Van de Poppe believes that Ethereum is in the process of establishing a new upward trend and still has potential to continue rising.

Technical Chart: Strong Support Area and Key Resistance

The chart shared by Van de Poppe from TradingView shows a significant recovery in ETH/USDT price action on Binance since early May 2025, following a prolonged downtrend. The chart marks:

  • High Timeframe Support near the $2,100 level.

  • Strong resistance areain the range of $2,600 to $2,800, with the level$2,750highlighted by Van de Poppe as an important resistance point.

He calls the $2,400 level a 'significant opportunity' for investors, implying that the current price range is still attractive before ETH can continue its upward momentum. The scenario presented is the potential for accumulation and consolidation near the resistance zone, followed by a breakout upwards if buying pressure persists.

ETH Market Structure Aiming for Breakout

This analysis aligns with the increasing optimistic sentiment in the cryptocurrency market. Currently, the technical structure of Ethereum suggests that traders should monitor the $2,100–$2,400 range to identify support and accumulation signals.

Van de Poppe's chart depicts a clear bullish setup, with an arrow pointing upwards, indicating the expectation of breaking the resistance level to establish a new peak — although no specific timeframe is given.

RSI Breaks Neutral Threshold, Showing Strong Buying Power

Another important technical factor is that Ethereum's RSI (Relative Strength Index) has now risen to 52.49, the first time it has exceeded the neutral threshold of 50 since March 2025. The current RSI moving average is at 38.40, reflecting previous weakness.

  • RSI above 50 indicates increasing buying pressure.

  • RSI below 50 indicates selling pressure controlling the market.

The fact that the RSI is currently above 50 is a positive signal, indicating that market sentiment is shifting — from pessimism to optimism. More importantly, this increase has also surpassed the RSI moving average, demonstrating that this is not just a temporary technical rebound like previous failures.

Trend Reversal Signal is Forming

The strong recovery of the RSI without entering the overbought (above 70) or oversold (below 30) zones reflects a new trend forming, with reinforced intrinsic strength. This is an early signal that helps traders monitor the likelihood of ETH continuing to rise in the near term, especially if trading volume confirms the upward momentum.

Conclusion

Michaël van de Poppe's analysis indicates that Ethereum is entering a positive phase, with strong support around $2,100–$2,400 and the potential to break the $2,750 resistance. The RSI indicator also shows that buying momentum is returning. If this trend continues, ETH could be on track to establish new price peaks in 2025.