Ethereum price has remained under pressure as it struggles to reclaim key resistance levels amid heightened global uncertainty.
The asset is trading in a tight range that reflects weak bullish momentum.
Market participants continue reacting cautiously to macroeconomic developments and geopolitical tensions, which have amplified volatility across risk assets.
Ethereum price action is showing repeated rejection near resistance, signaling persistent selling pressure.
As a result, the market remains focused on key levels that could define the next directional move.
Ethereum hovered near $2,056 after repeated failures to break the $2,150 resistance zone. The level has capped upside attempts for two consecutive months.
Recent price action showed a decline from $2,132 to around $2,040 within 24 hours. Over the past week, Ethereum lost roughly 5% of its value.
Market volatility intensified following statements from President Donald Trump regarding military operations against Iran.
Trump stated that US forces approached the final stages of “Operation Epic Fury.” He also suggested potential strikes on Iranian energy infrastructure.
These remarks pushed oil prices higher and triggered a broad crypto market selloff.
Cryptocurrency analyst Darkfost reported that Ethereum futures selling volume on Binance surged by $1 billion within one hour. He explained that the sudden spike followed Trump’s comments.
The surge in selling pressure forced Ethereum below the $2,150 resistance threshold.
Ethereum downside risks grow as key support levels approach
Data from CoinGlass showed that $2.4 billion in long positions clustered near $1,845. Meanwhile, $1.7 billion in short positions sit around $2,255.
Analysts noted that this imbalance exposes Ethereum to greater downside risk.
If Ethereum breaks below its ascending trendline, attention shifts toward the $1,900 level. This zone aligns with equal lows recorded in early March.
A drop below $1,900 could expose the yearly low at $1,736.
Another analyst identified $1,537 as the next major support level. He added that this level aligns with weekly equal lows. He further stated that a broader trend reversal may push Ethereum toward $1,384.
In an extended decline, the price could test the $1,190 to $1,148 range.
Ethereum currently trades near its 200-period exponential moving average at $2,104.
Analyst CyrilXBT noted that Ethereum briefly reached $2,400 in mid-March. However, he said the rally failed to confirm sustained bullish momentum.
On-chain strength persists despite weak price action
Despite price weakness, on-chain data shows resilience in Ethereum network activity.
Santiment reported that daily active addresses reached approximately 788,000. This figure approaches all-time highs, signaling strong user engagement.
Technical indicators continue to reflect bearish momentum. The Relative Strength Index stands at 34, near oversold territory.
However, it remains below the neutral 50 level. The MACD indicator shows a reading of -15, confirming continued selling pressure.
Analysts stated that a daily close above $2,150 would signal renewed bullish strength.
A breakout above $2,400 could open the path toward $2,800. This zone has recorded limited trading activity in recent months.
Ethereum technical analysis
Ethereum price remains in a broader downtrend, forming lower highs before entering a recent sideways consolidation phase.
The current price is around $2,070, aligning with recent market levels near the $2,000–$2,100 range.
The RSI is near 48, indicating neutral momentum with no clear overbought or oversold conditions.
The MACD remains slightly negative but flattening, suggesting weakening bearish momentum and a possible consolidation or early reversal signal.
