Ether (ETH) may be vulnerable to a drop toward new year-to-date lows if buyers cannot secure daily closes above the $2,150–$2,400 band. Price action remains highly sensitive to US and global macro developments and risk appetite amid the US–Israel–Iran conflict. With more than $1 billion of futures-driven selling observed, the probability of ETH revisiting the $1,800 area has increased.
Main challenge sits at $2,400
Repeated rejections near $2,150 continue to cap rallies; that zone has acted as resistance seven times in the past two months. Despite a pattern of higher highs and higher lows on the daily chart, the ascending trendline and the 2,150 area dominate price behavior. A break beneath the trendline would refocus attention on $1,900, where liquidity clusters around the equal lows from early March. Losing $1,900 would break structure and expose liquidity down to the yearly low near $1,736.
Short positioning has not surged alongside the recent decline. A liquidation heatmap shows an imbalance across a roughly 10% range ($1,845–$2,255) from the current price: about $2.4 billion in long liquidations are clustered near the lower bound (~$1,845) while roughly $1.7 billion in short liquidations sit near the upper bound (~$2,255). This skew means downside liquidity is larger, but short exposure isn’t overcrowded, suggesting a more passive stance rather than aggressive conviction selling. Price remains compressed under resistance with buyers unable to reclaim control above $2,150.
ETH derivatives spike after macro volatility
ETH futures selling accelerated after comments from US President Donald Trump heightened tensions with Iran, signaling extended military action and threats to Iranian infrastructure. Crypto analyst Darkfost noted a roughly $1 billion increase in Binance ether futures sell volume within an hour following that development.
Even with the surge in futures selling, ETH trades just below $2,150. A sustained close above $2,150 would open a path toward $2,400, where resistance thins; clearing $2,400 could then target an expansion zone near $2,800, an area with limited trading activity over the past six months. For now ETH remains range-bound, capped at $2,150 with $1,900 as the nearest liquidity pivot that could extend losses if broken.
This article is for informational purposes only and follows Cointelegraph’s Editorial Policy. It does not constitute investment advice or recommendations. All trades and investments carry risk; readers should perform independent research before acting. Cointelegraph does not guarantee the accuracy or completeness of the information and is not liable for losses arising from reliance on this content.