Ether Hits $2.1K But Holding It Requires Two Factors
Ether reached $2,150, but maintaining above $2,100 requires positive market sentiment and overcoming technical resistance levels.Summary
Ether (ETH) recently hit a weekly high of $2,150, but its ability to hold above the critical $2,100 level depends on market conditions. This $2,100 mark is significant as it aligns with the cost basis and realized price for large holders (wallets with 100,000+ ETH), a level ETH has historically recovered from when tested as support. Analysts note that acceptance above $2,140 could shift short-term order flow, while failure keeps the price range-bound. Furthermore, while short liquidations have cleared overhead leverage, a large pocket of long liquidations sits near $1,800. Binance funding rates have turned positive, suggesting long positioning is increasing, which risks a long squeeze near $1,800 if momentum stalls. Technical hurdles include rejections at the SuperTrend resistance band and a channel resistance near $2,250, suggesting traders should watch for buying interest near April lows around $1,500 before a sustained move above $2,500 is likely.
(Source：Cointelegraph)