Key Takeaways
- ETH currently trades near $2,056 following multiple rejections at the $2,150 resistance barrier
- Binance witnessed more than $1 billion in ETH futures selling volume in a single hour after Trump’s Iran remarks
- Blockchain metrics reveal approximately 788,000 daily active addresses, approaching record territory
- Critical support zones include $1,900, $1,800, and the 2026 bottom at $1,736
- Momentum indicators show RSI at 34 and MACD at -15, both signaling bearish conditions
Ethereum remains confined within a narrow trading corridor, hovering near $2,056 following multiple failed breakout attempts at the $2,150 resistance barrier. This overhead ceiling has prevented upward momentum on seven separate occasions during the last two months.
The digital asset declined from approximately $2,132 to the $2,040 region during the previous 24-hour period. Throughout the past seven days, ETH has experienced a decline approaching 5%.
US President Donald Trump’s statements regarding the escalating Iran situation triggered widespread market volatility. Trump indicated the US military stands “very close” to finalizing “Operation Epic Fury” and mentioned possible attacks on Iranian energy infrastructure. Oil markets climbed while digital assets faced selling pressure.
Crypto market analyst Darkfost highlighted on X that ETH futures selling activity on Binance surged by $1 billion during a single 60-minute window after Trump’s public comments. This dramatic increase in bearish pressure contributed to ETH’s retreat from the $2,150 threshold.
Liquidation information from CoinGlass indicates approximately $2.4 billion in leveraged long positions concentrated around $1,845, while roughly $1.7 billion in short positions cluster near $2,255. This asymmetry points toward greater downside liquidity pools compared to upside targets.
Critical Support Zones Under Observation
Should Ethereum break below its current ascending trendline support, market participants will likely monitor the $1,900 level closely, where equal lows from early March remain intact. A breach of $1,900 could bring the annual low at $1,736 into play.
Beneath that threshold, analyst Minga identifies $1,537 as the subsequent major target, aligned with weekly equal lows. A comprehensive macro trend reversal might necessitate testing the $1,384 low, potentially extending down to the $1,190–$1,148 range as a possible cyclical bottom.
Ethereum currently trades near its 200-period exponential moving average around $2,104. Analyst CyrilXBT observed that ETH temporarily rallied to $2,400 during mid-March before reversing lower without building sustained momentum.
Blockchain Metrics Show Continued Strength
While price action remains subdued, Ethereum’s underlying network health demonstrates resilience. Santiment data reveals roughly 788,000 daily active addresses interacting with the network, positioned near historical peak levels.
The 14-period Relative Strength Index registers 34, hovering just above oversold conditions while remaining beneath the neutral 50 threshold. The MACD indicator (12,26) displays a reading of -15, confirming that near-term momentum trends bearish.
A decisive daily candle close above $2,150 would represent the initial confirmation of buyer dominance returning to the market. Should ETH manage to surpass $2,400, the subsequent area of concentration emerges around $2,800, a region with minimal trading volume throughout the past six months.
ETH continues trading within its established range near $2,000, with $2,150 serving as overhead resistance and $1,900 representing the nearest significant support pivot.
