Ethereum Finally Hits $2K Again as Analyst Expects a ‘Significant Upward Move in Ethereum’s Price’

Ethereum (ETH-USD) is finally breathing a sigh of relief after recovering from a brutal start to the month. On February 26, 2026, the second-largest cryptocurrency climbed back above the $2,000 mark, a psychological number that traders watch carefully. After falling as low as $1,800 on February 6, the coin has spent the last few weeks building a base. Now, on-chain data suggests that the worst of the selling might be over.

Ethereum’s Realized Volatility Signals a Major Shift

The most telling sign of a recovery is a sudden explosion in how much the price is moving. According to CryptoQuant, Ethereum’s realized volatility on Binance has hit its highest level since early 2025. While many investors fear volatility, in the crypto world, a sudden spike after a long drop often means the market is getting ready to flip.

Tracking these volatility spikes has been a reliable way to predict big rallies in the past. CryptoQuant analyst Arab Chain noted that this environment shows the market is emerging from a quiet period. In a recent analysis, he stated, “Past experience has shown that such readings have often preceded a significant upward move in Ethereum’s price.” For example, a similar spike in 2025 led to a massive 77% gain in less than a month.

ETH’s MVRV Z-Score Hits the Accumulation Zone

Another technical tool, called the MVRV Z-Score, is also flashing a buy signal. This metric looks at whether Ethereum is overvalued or undervalued by comparing its current price to the price at which people actually bought their coins. Right now, the score has dropped into the green zone, which historically marks a market bottom.

Entering the accumulation zone means that most people currently holding Ethereum are underwater, or holding at a loss. Historically, when the Z-Score gets this low, it is a sign that the weak hands have already sold and long-term investors are starting to buy again. The last time the score was this low, Ethereum began a legendary run that eventually took it to its all-time high of $4,950.

Ethereum’s Support Levels Provide a Safety Net

Even with the price back at $2,000, experts are looking at the $1,800 to $1,900 range as the most important floor for the market. Data from Glassnode shows that investors recently bought nearly 3 million ETH in this specific area, creating a thick wall of support that might prevent the price from falling any further.

Holding onto this multi-year trend line is essential for the bullish case. If the price can stay above $2,100, the next big target for the bulls is around $2,540. While there are still risks, like the upcoming tax season in April, the current combination of high volatility and a low Z-Score suggests that Ethereum is gearing up for an explosive climb similar to the one seen in late 2020.

At the time of writing, Ethereum is sitting at $1,991.75.