Quick Overview
- Ethereum currently trades near $2,056 following multiple failed attempts to breach the $2,150 resistance barrier
- Binance witnessed over $1 billion in ETH futures liquidations in just 60 minutes after geopolitical commentary from Trump
- Network metrics reveal approximately 788,000 daily active addresses, approaching record territory
- Critical downside zones include $1,900, $1,800, and the 2026 bottom at $1,736
- Momentum indicators show bearish pressure with RSI at 34 and MACD registering -15
The second-largest cryptocurrency by market capitalization remains trapped in a constrained trading band, hovering near $2,056 following seven unsuccessful attempts to surpass the $2,150 resistance barrier over the last two months.
Within the last 24 hours, Ethereum’s value declined from approximately $2,132 down to the $2,040 zone. The seven-day performance shows a decline of nearly 5%.
Global markets experienced turbulence following statements from President Donald Trump regarding escalating tensions with Iran. Trump indicated US military operations labeled “Operation Epic Fury” were nearing completion and suggested possible strikes targeting Iranian energy infrastructure. The comments triggered oil price increases while cryptocurrency assets faced selling pressure.
Market analyst Darkfost highlighted on X that Binance recorded a staggering $1 billion surge in ETH futures sell volume within just one hour after Trump’s statements. This dramatic increase in bearish pressure contributed to Ethereum’s decline below the critical $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 liquidation metrics from CoinGlass, approximately $2.4 billion in long position liquidations are concentrated around the $1,845 level, while short liquidations totaling $1.7 billion cluster near $2,255. This asymmetry indicates greater vulnerability to downside moves than upside potential.
Critical Support Zones Under Watch
Should Ethereum break below its current ascending trendline support, market participants will likely turn attention toward $1,900, which aligns with equal lows established in early March. A breach of $1,900 could potentially expose the annual low positioned at $1,736.
Looking further down, market analyst Minga identifies $1,537 as the subsequent significant level, coinciding with weekly equal lows. A broader macro trend reversal might necessitate a sweep of the $1,384 low, potentially extending into the $1,190–$1,148 range as a possible cycle nadir.
The asset is currently trading in proximity to its 200-period exponential moving average at roughly $2,104. Technical analyst CyrilXBT observed that ETH briefly rallied to $2,400 during mid-March before reversing lower without establishing sustainable 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 a Contrasting Picture
While price action displays weakness, Ethereum’s underlying network health metrics demonstrate resilience. Santiment analytics indicate approximately 788,000 active addresses engaging with the network daily, positioning near 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 stands at 34, hovering just above oversold conditions but remaining decisively below the neutral 50 mark. The MACD indicator (12,26) displays a reading of -15, confirming that near-term momentum favors sellers.
A definitive daily close above the $2,150 level would represent the initial concrete signal of buyer re-engagement. Should Ethereum successfully breach $2,400, the subsequent area of interest emerges around $2,800, a zone characterized by minimal trading volume over the preceding six-month period.
For now, ETH continues consolidating near the $2,000 psychological level, constrained by $2,150 overhead resistance and $1,900 representing the nearest significant support pivot below.
