Ethereum is struggling to regain momentum after slipping below the $2,100 support level, with price now running into resistance between $2,100 and $2,150. Analyst Ted Pillows said failure to reclaim that zone could leave the market exposed to heavier selling. Traders are also watching $2,000 closely. If that level breaks, the next downside area could open toward $1,815, followed by $1,700 and even the $1,650 to $1,550 range if bearish pressure builds.
Ascending channel remains in place on the 4-hour chart
Despite the recent weakness, Ethereum is still trading within an ascending channel on the 4-hour timeframe. Market observer Celal Kucuker said the lower boundary of that channel has acted as support since late January, with buyers stepping in near $2,140. That keeps the short-term structure from breaking down completely. Still, the upside is crowded. Kucuker identified $2,357 and $2,440 as the main resistance levels near the upper edge of the channel, making them key levels for any rebound attempt.
He also stressed the importance of holding above the rising trendline. If ETH stays above it, the market keeps a path open for another push higher. If it loses that support, the short-term setup could weaken quickly.
On-chain activity rises sharply even as price stays under pressure
Network data is telling a different story from price action. Figures compiled by Ali Charts show active Ethereum addresses jumped from 381,000 to more than 841,000. That increase points to stronger user participation and renewed network engagement, helping sustain trading activity even while ETH remains under pressure on the chart.
Separate data shared by Collin showed Bitcoin exchange reserves falling to 2.7 million. The metric is tied directly to Bitcoin, but it also reflects a broader reduction in available crypto supply and a backdrop of rising institutional demand across digital assets. Ethereum may benefit from that wider supply trend even if the signal does not come from ETH-specific reserves.
Analysts watch $1,800 to $2,000 as a broader base zone
According to analyst Javon Marks, Ethereum’s medium- to long-term structure is resembling earlier market cycles, with the asset forming a new base and building upside momentum. In his view, the $1,800 to $2,000 region could serve as a launch area for the next larger move, with potential targets reaching $5,000 to $8,500 if bullish conditions hold.
For now, the market is focused on several nearby levels. Support is centered at $2,050, followed by $2,000 and the $1,850 to $1,900 band. Resistance remains at $2,100 to $2,150, $2,350, and $2,500. Analysts said a sustained break above $2,350 would be a key step in restoring stronger upside momentum, while a drop below $2,050 could speed up downside pressure.