Ether (ETH) reached a weekly high of $2,150 on Thursday, a key level for large holders, but volatility in crypto and equity markets continues to drive corrections beneath $2,000. Two factors will be crucial for ETH to sustain gains: acceptance above whale cost bases and stability around the $1,800 liquidity pocket.
A daily close above roughly $2,100 is important because it aligns with the realized price of wallets holding 100,000+ ETH. Realized price tracks the last moved price of coins and serves as a profitability gauge for long-term holders. Since 2020, Ether has rarely traded below this whale cohort’s realized price outside of deep drawdowns like the 2022 bear market, and price has tended to recover when that level acted as support.
Short-term order flow also points to the $2,140–$2,150 area. Market technician Dom noted a sweep near range lows earlier in the week, with price touching the one-month rolling VWAP and the value area high—the upper boundary of the monthly volume distribution. Acceptance above the VWAP and value area high could shift short-term order flow bullish; failure to hold would keep ETH range-bound.
Below the current price, CoinGlass data highlighted more than $220 million in short liquidations over two days, clearing some overhead leverage. However, about $2.66 billion of cumulative long liquidation exposure concentrates near $1,800, forming a notable liquidity pocket that could fuel sharp moves if tapped.
Funding-rate dynamics matter here. On Binance, ETH funding flipped sharply negative earlier in the month as aggressive shorts entered. After the drop below $1,800, funding swung back positive (around 0.23%), indicating short squeezes removed late shorts and positioning has shifted toward longs. If longs become overcrowded, the elevated funding could set the stage for a long squeeze back toward $1,800 if momentum fades.
Technically, analysts see multiple resistance layers. IncomeSharks flagged repeat SuperTrend rejections and a channel resistance near $2,250. The SuperTrend—which uses ATR to define trend—has acted as dynamic resistance as rebounds have been rejected at the red band, signaling sellers still exert control. The analyst also suggested watching whether ETH revisits April lows near $1,500, which sit inside a weekly demand zone roughly between $1,691 and $1,384, before any sustained move above $2,500 is likely.
In sum, for Ether to hold gains above $2.1K two things must happen: it needs clean acceptance above whale realized-price levels and short-term VWAP/value area thresholds, and it must avoid a renewed breakdown into the $1,800 liquidity pocket that could trigger squeezes. Traders should monitor VWAP and realized-price acceptance, funding rates, and liquidation clusters for signs of durable bullish continuation or renewed downside risk.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.