Quick Overview
- Ethereum trades near $2,056 following multiple rejections at the critical $2,150 resistance barrier
- Binance witnessed over $1 billion in Ethereum futures liquidations in just 60 minutes after geopolitical tensions escalated
- Network metrics reveal approximately 788,000 daily active addresses, approaching record territory
- Critical downside levels 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 continues to struggle within a narrow trading corridor, hovering near $2,056 following persistent failures to breach the $2,150 resistance barrier. This overhead level has successfully blocked upward momentum on seven separate occasions throughout the last two months.
The digital asset declined from approximately $2,132 to the $2,040 zone during the last 24-hour period. Looking at the weekly timeframe, ETH has shed nearly 5% of its value.
Remarks from President Donald Trump regarding escalating tensions with Iran sent shockwaves through financial markets. Trump indicated that the US military is approaching completion of “Operation Epic Fury” and suggested possible attacks on Iranian energy infrastructure. While oil markets rallied, cryptocurrency assets faced significant selling pressure.
Cryptocurrency analyst Darkfost highlighted on X that Ethereum futures sell volume on Binance surged by $1 billion in just 60 minutes after Trump’s statements. This dramatic increase in bearish pressure contributed to ETH’s decline below the $2,150 threshold.
🔴 $1B in ETH selling hits derivatives in 1 hour After Trump’s speech.
While markets around the world were expecting a de-escalation speech from Donald Trump regarding the conflict with Iran, his remarks went in a completely different direction.
Instead, Trump made it clear… pic.twitter.com/nz6kIK1Clw
— Darkfost (@Darkfost_Coc) April 2, 2026
Liquidation information from CoinGlass reveals approximately $2.4 billion in long positions vulnerable near $1,845, while short positions totaling $1.7 billion face risk around $2,255. This disparity indicates greater downside liquidity pools waiting to be triggered.
Critical Support Zones Under Watch
Should Ethereum break below its current ascending trendline support, market participants will likely turn their attention to the $1,900 level, where equal lows from early March are positioned. A breakdown through $1,900 could leave the annual low of $1,736 exposed to testing.
Beneath that floor, analyst Minga identifies $1,537 as the subsequent major level, coinciding with weekly equal lows. A comprehensive macro trend reversal might necessitate a sweep below the $1,384 low, potentially extending toward the $1,190–$1,148 range as a possible cycle nadir.
Ethereum currently trades in proximity to its 200-period exponential moving average positioned around $2,104. Analyst CyrilXBT observed that ETH briefly rallied to $2,400 during mid-March before reversing lower without confirming sustained bullish continuation.
$ETH – 4H
ETH is in a completely different situation. This one never really ran.
It spiked to $2,400 mid-March and has been bleeding since.
Right now it's hugging the 200 EMA at $2,104. That's actually somewhat constructive: price is not collapsing, it's compressing.
$1,800… pic.twitter.com/irj1UA7lEk
— CyrilXBT (@cyrilXBT) April 1, 2026
On-Chain Metrics Show Resilience
Contrary to price action weakness, Ethereum’s blockchain fundamentals demonstrate strength. Analytics from Santiment indicate roughly 788,000 active daily addresses interacting with the network, approaching historical peak levels.
📈 Ethereum's network remains near all-time high levels as $ETH's market value sits at ~$2,130. According to our on-chain data, there are:
🏃 Over 788K addresses per day interacting on the network
👶 Over 255K new addresses per day created on the network pic.twitter.com/vz5Vq2HwDf— Santiment ✈️ 🇫🇷 EthCC (@santimentfeed) April 1, 2026
The 14-period Relative Strength Index registers at 34, hovering just above oversold conditions while remaining beneath the neutral 50 mark. The Moving Average Convergence Divergence (12,26) indicator shows a reading of -15, confirming that near-term momentum favors sellers.
A decisive daily candle close above $2,150 would represent the initial confirmation of renewed buying interest. Should ETH successfully surpass $2,400, the subsequent area of significance lies near $2,800, a zone with minimal trading activity over the previous six months.
Ethereum maintains its position in a consolidation pattern around $2,000, with $2,150 functioning as overhead resistance and $1,900 serving as the closest downside support level.
