Ethereum has recovered from the $1,750 to $1,900 area, but the rebound is running into heavy resistance near $2,300 to $2,400. Price has built a sequence of higher lows, yet the broader trend has not turned. Attention is now shifting back to the risk of long liquidations around $2,200.
Resistance clusters keep the rebound in check
The immediate ceiling sits between $2,340 and $2,420, with another pocket of sell orders stacked at $2,450 to $2,480. Traders have been watching these zones closely because a push through resistance may not hold if supply continues to outweigh demand. Short-term signals are mildly constructive: MACD and its histogram are positive, while the RSI stands at 57. Even so, that strength has not been enough to confirm a breakout.
One market view cited in the source described ETH as looking weak at current levels, pointing to major long liquidation clusters around $2,200 and short-side liquidity near $2,450 to $2,480. That setup leaves room for a brief move higher if short liquidity is swept, but it also leaves traders alert to a fast rejection if buying pressure fades at those upper levels.
$2,250 to $2,280 support now matters more
On the downside, the nearby support zone is placed at $2,250 to $2,280. A break below that range could squeeze leveraged longs and speed up selling toward $2,200. If that level fails as well, the next important support is seen at $2,100 to $2,150.
The market is effectively boxed in. Resistance remains crowded overhead, while the liquidation area below looks increasingly fragile. A test of upper resistance could still happen, but if buyers lose momentum, the market may quickly shift back to defending lower levels.
Long positioning stays crowded across major exchanges
Exchange data shows a clear tilt toward long exposure. On Binance’s ETH/USDT pair, the long-short ratio is just under 2, while OKX accounts show a ratio of 1.48. Data on top traders still points to net long positioning, though larger participants are keeping their sizing closer to neutral. That split suggests smaller traders are leaning more aggressively to the upside, while larger accounts are managing risk with more restraint.
Liquidation flows support that picture. In the last hour, Ethereum liquidations reached $12.35 million, including $12.05 million from long positions. Over the last 24 hours, total liquidations climbed to $65.91 million, with $52.83 million tied to leveraged longs. Until ETH can close decisively above $2,420, traders are likely to stay sensitive to any move that brings the $2,200 liquidation zone back into play.