ETH faces potential drop to 2026 depths unless buyers defend $2.4K resistance level
Ethereum could see new lows beneath $1,736 should bullish traders prove unable to maintain the cryptocurrency's value above a critical upward-trending support line.
The price of Ether (ETH) could potentially face a downward movement toward fresh year-to-date lows, particularly if buyers cannot manage to establish sustained daily candle closures above the price corridor spanning from $2,150 to $2,400.
The movement of Ether's value remains largely influenced by macroeconomic developments in the United States and globally, combined with the willingness of investors to embrace risk-oriented assets amid ongoing tensions between the US and Iran-Israel conflict. With data revealing over $1 billion in sell-side pressure originating from futures markets, the probability of Ether descending beneath the $1,800 threshold continues to increase.
Primary obstacle for Ether positioned at $2,400
Multiple rejections in the vicinity of $2,150 persistently prevent Ether from advancing higher, with this price point functioning as formidable resistance on seven separate occasions throughout the previous two months. This trend and the associated resistance levels continue to dictate price movement, notwithstanding the formation of higher-high and higher-low candlestick patterns that are observable on the daily timeframe chart.
Should the price breach the upward-sloping trendline, market participants' attention may pivot toward the $1,900 level, a zone where liquidity concentrates near the equal lows that developed during March's opening week. A failure to hold that price point would represent a bearish structural breakdown, leaving Ether vulnerable to external liquidity zones down to the annual low positioned at $1,736.
Interestingly, short position accumulation has not exhibited substantial growth despite the asset's recent price decline. According to the liquidation heatmap data, an asymmetry exists within a 10% price range ($1,845–$2,255) relative to current trading levels, displaying roughly $2.4 billion worth of long position liquidations concentrated around the range's lower boundary ($1,845) and approximately $1.7 billion in short position liquidations clustered near the upper boundary ($2,255).
This distribution suggests that downward liquidity represents a larger component, though short positioning remains far from saturated levels, despite ongoing price weakness.
The lack of substantial short-side accumulation suggests traders are maintaining passive positions rather than engaging in conviction-based selling activity. Price action continues to contract beneath resistance levels, while buyers demonstrate an inability to regain dominance above the critical $2,150 threshold.
ETH derivatives spike after continued macro volatility
An increase in ETH futures selling activity emerged in response to statements made by US President Donald Trump, which intensified rather than de-escalated tensions involving Iran. Trump indicated that military operations would persist through late April and raised the possibility of targeting Iran's power generation infrastructure.
In the aftermath of these developments, cryptocurrency analyst Darkfost observed that the volume of Ether futures sell orders on Binance surged by $1 billion over a 60-minute period.
Notwithstanding the spike in sell-side activity, ETH maintains trading just beneath the $2,150 resistance barrier. A persistent advance above the $2,150 level would create a pathway toward $2,400, an area characterized by comparatively minimal resistance.
Should the asset successfully breach $2,400, the subsequent expansion target resides in the vicinity of $2,800, a region that has witnessed minimal trading volume over the preceding six-month period.
At present, ETH continues trading within a defined range, constrained by persistent resistance in the $2,150 area, while $1,900 serves as the closest liquidity reference point, which could potentially facilitate a bearish breakdown extension.