Key Takeaways
- Ethereum currently sits at approximately $2,056, facing continued resistance at the $2,150 price barrier
- Binance witnessed more than $1 billion in ETH futures selling pressure in just 60 minutes after Trump’s Iran statements
- Network activity remains robust with roughly 788,000 daily active addresses, approaching record levels
- Critical support zones include $1,900, $1,800, and the 2026 bottom at $1,736
- Bearish momentum confirmed by RSI at 34 and MACD reading of -15
Ethereum finds itself trapped within a narrow trading channel, hovering near $2,056 following multiple unsuccessful attempts to breach the $2,150 resistance barrier. This price ceiling has successfully blocked upward movements on seven separate occasions throughout the last two months.
Within the last 24-hour period, the asset declined from approximately $2,132 down to the $2,040 range. Weekly performance shows ETH down nearly 5%.
Market volatility intensified after President Donald Trump’s statements regarding Iran tensions. Trump indicated the military operation dubbed “Operation Epic Fury” is nearing completion and suggested possible attacks on Iranian energy infrastructure. Traditional oil markets surged while cryptocurrency assets faced downward pressure.
Market analyst Darkfost highlighted on X platform that Binance experienced a massive $1 billion surge in ETH futures selling within just one hour after Trump’s public comments. This dramatic increase in sell-side activity contributed to ETH’s continued weakness 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
According to CoinGlass liquidation analytics, approximately $2.4 billion worth of long positions face liquidation risk near $1,845, while short positions totaling around $1.7 billion cluster around $2,255. This disparity indicates greater vulnerability to downside moves.
Critical Support Zones Under Watch
Should Ethereum break below its current ascending trendline support, market participants will likely redirect attention toward $1,900, where equal lows from early March are positioned. Breaking through $1,900 could open the door to testing the annual low at $1,736.
Looking deeper, analyst Minga identifies $1,537 as the subsequent significant level, marked by weekly equal lows. A comprehensive macro trend reversal might necessitate sweeping the $1,384 low, potentially extending toward the $1,190–$1,148 zone as a possible cyclical bottom.
The asset currently trades close to its 200 EMA, positioned around $2,104. Technical analyst CyrilXBT observed that ETH briefly rallied to $2,400 during mid-March before reversing lower without confirming sustained upward momentum.
$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 Paint Stronger Picture
While price action appears weak, Ethereum’s underlying network health demonstrates resilience. Santiment analytics reveal approximately 788,000 daily active addresses utilizing 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-day Relative Strength Index registers at 34, hovering just above oversold conditions but remaining beneath the neutral 50 threshold. The MACD indicator (12,26) shows -15, confirming near-term bearish momentum persists.
A decisive daily candle close above $2,150 would signal the initial indication of returning buyer momentum. Should ETH successfully breach $2,400, the subsequent area of interest emerges around $2,800, a region with minimal trading volume over the previous six months.
Ethereum continues consolidating around the $2,000 level, trapped between resistance at $2,150 above and $1,900 support below.
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