Key Takeaways
- Ethereum advanced 9% during Monday’s session before encountering strong resistance at the $2,200 price level
- The 50-day exponential moving average positions itself at $2,200 as a barrier, while the 50-day simple moving average provides support at $2,000
- ETF market data reveals renewed selling pressure, with more than $27.5 million exiting Ethereum investment products during the week that concluded March 20
- Technical analysis suggests a potential move toward $3,080 if buyers can successfully push through the $2,200 threshold, based on symmetrical triangle projections
- The daily SuperTrend indicator has shifted to green territory, marking the first bullish reading since May of the previous year
Ethereum’s momentum-driven recovery encountered a significant obstacle at the $2,200 threshold during Monday’s trading session, despite a technical indicator producing its first positive signal in approximately ten months.
The second-largest cryptocurrency by market capitalization posted approximately 9% gains on Monday before meeting resistance at the $2,200 mark. This price point aligns precisely with the 50-day exponential moving average (EMA), creating a technical ceiling for further advancement.
Current trading activity places ETH above the $2,120 level and comfortably above the 100-hour simple moving average. The asset has also successfully breached a short-duration downtrend line that previously capped price at $2,145 on the hourly timeframe.
Critical Price Zones for Ethereum Traders
Traders are monitoring immediate overhead barriers at $2,180 followed by $2,200. Successful clearance of these levels would expose additional targets at $2,250, $2,300, and extending to $2,345.
A decisive close above $2,200 would activate the symmetrical triangle formation visible on daily charts, projecting a measured objective at $3,080. This represents approximately a 42% advance from present trading levels.
Buyers attempting to reach that ambitious target would encounter substantial selling pressure clustered between $2,780 and $2,880. This congestion zone contains the convergence of the 200-day EMA, 50-week EMA, and 100-week EMA. Glassnode analytics indicates that more than 7.5 million ETH tokens were acquired by market participants within the $2,750–$2,850 price band.
Regarding downside risk, analyst Ted Pillows highlighted in an X platform post: “Now, the only crucial support level for Ethereum is $2,000 and if ETH loses it, the dump will accelerate to new lows.” The bearish triangle measurement points toward $1,400 as a downside objective.
Exchange-Traded Fund Activity Remains Challenging
Institutional participation through ETF vehicles continues to present headwinds for Ethereum’s price recovery. Spot ETH ETF activity has reverted to negative territory following a short-lived period of accumulation. The 30-day rolling average of United States spot ETH ETF flows has declined back below the zero line.
Worldwide Ethereum investment vehicles recorded net redemptions exceeding $27.5 million during the seven-day period ending March 20.
Corporate treasury purchases of ETH have declined substantially since August 2025. Bitmine Immersion Technologies, under the leadership of Tom Lee, stands as the notable exception, adding $139 million worth of ETH during the previous week. Bitmine’s total position now reaches 4.66 million ETH, approaching closer to the company’s publicly announced objective of accumulating 5% of the circulating token supply.
Providing a technical perspective, cryptocurrency analyst Ali Charts shared on X: “Momentum is finally shifting back to the Ethereum $ETH bulls. The SuperTrend on the daily chart has turned green (bullish) for the first time since May last year. This suggests the long period of ‘sideways grind’ is ending, and as long as the $1,800 support holds, a new uptrend could begin.”
Bitmine continues as the sole corporate entity actively expanding its Ethereum treasury holdings, maintaining a position totaling 4.66 million ETH tokens.
