Key Takeaways
- Ethereum declined 3.4% to reach $2,287 following its fourth consecutive failure to breach $2,400 resistance
- Technical indicators reveal a triple top formation on daily timeframes, placing emphasis on $2,150 as critical support
- Liquidation data reveals over $2.5 billion in leveraged long positions concentrated beneath the $2,150 threshold
- The ETH/BTC trading pair slipped under the 0.032 level, demonstrating relative underperformance versus Bitcoin
- Higher timeframe analysis indicates ETH remains within an accumulation range, though breakout confirmation is pending
The second-largest cryptocurrency by market capitalization has encountered persistent resistance at the $2,400 mark, with four separate rejection attempts recorded since April 14. This has created a triple top configuration on daily charts. Monday’s session saw Ethereum retreat 3.4% to settle at $2,287, extending a pattern of unsuccessful upward momentum.

The 100-day exponential moving average positioned around $2,350 has served as a barrier to upward movement during this timeframe. Daily candle closes have remained beneath this technical indicator, limiting the duration and strength of recovery attempts.
Michaël van de Poppe, representing MN Capital, highlighted deteriorating performance in the ETH/BTC trading pair. This ratio descended below the 0.032 BTC threshold, violating a support structure that had previously maintained upward price action. The metric additionally fell beneath its 21-period moving average, confirming diminishing relative strength compared to Bitcoin.
For the ETH/BTC pair, the subsequent higher timeframe support zone appears around 0.026 BTC, a level where historical buying interest emerged.
Critical $2,150 Level Commands Market Attention
The $2,150 price point has emerged as the primary focal area for traders. This level previously functioned as overhead resistance before transitioning into a support zone. A breakdown through this boundary would open exposure to the $2,050 down to $1,900 territory.
CoinGlass liquidation metrics identify over $2.5 billion worth of leveraged long contracts positioned immediately below $2,150. Penetration of this level carries the potential to activate cascading liquidations.
Binance data shows Ether’s open interest has contracted to $2.58 billion, matching figures observed when ETH traded around $2,200 earlier in the month. The funding rate currently hovers near -0.013%, representing the lowest measurement since February, indicating short position dominance in recent market activity.
Analyst Amr Taha highlighted this configuration—reduced leverage combined with short-biased positioning—as a potential catalyst for upward price movement should ETH maintain current price levels.
Extended Timeframe Analysis Points to Accumulation Territory
Crypto Patel published a two-week interval chart on X demonstrating Ethereum positioned near the bottom boundary of an extended rising channel structure. The $1,700 to $2,250 zone is characterized as a liquidity absorption and accumulation area, maintaining its role as foundational support since 2022.
Immediate overhead resistance above current valuation appears near $2,480, with the $3,500 to $4,900 range representing the next significant barrier, encompassing the prior all-time high region around $4,876.
James Easton shared a three-day chart on X illustrating a recurring pattern where substantial rallies developed following pronounced retracements. A white marker indicates the present 2026 low point, implying ETH may be constructing another foundational base.
Both technical perspectives refrain from validating a fresh bullish cycle. Ethereum requires sustained hold within the accumulation territory and recapture of $2,480 before strengthening any optimistic outlook.
The critical junction remains at $2,150, where technical support structure intersects with concentrated liquidation exposure on daily charts.

