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- Ethereum Price Forecast: Ethereum Continues Testing $2,110 Level and 20-Day Exponential Moving Average
The Ethereum network experienced $39 million in liquidations over the past 24 hours, led by long position liquidations worth $21.2 million, according to Coinglass data.
Ethereum faces pressure near the support level at $2,110, where the convergence of the (EMA) 20-day exponential moving average reinforces this horizontal level. A break of this level would reveal the next support level at $1,740, followed by $1,524.
On the upside, the initial resistance level sits at $2,390, with additional barriers at $2,746 and $3,412 that could limit broader recovery attempts. A daily close above $2,390 would open the door for a more sustained bounce toward the mid-$2,000 range, while a decline below $2,110 would refocus attention on deeper support levels and confirm the broader downtrend.
Daily Chart for ETH/USDT Pair
The (RSI) indicator hovers around 50, confirming balanced momentum following a pullback from overbought readings seen earlier in the month, while the (Stoch) oscillator cools from its previous extremes, suggesting a retreat in upside pressure but without a decisive bearish shift.
$ETH
**Ethereum Price Today: $2,130**
The leading altcoin experienced increasing bullish momentum in the first half of the week, accompanied by institutional buying, whale accumulation, and expanded interest in financial derivatives.
BitMine Immersion (BMNR), a company specializing in Ethereum treasury management, announced on Monday that it purchased 60,999 Ethereum, raising its holdings to 4.59 million Ethereum.
Whales (wallets holding between 10,000 and 100,000 Ethereum) also demonstrated strong accumulation, while retail traders continued to show weakness in trading activity.
**Ethereum balance by holder value. Source: Crypto Quant**
Notably, the Ethereum derivatives market saw renewed interest from long-term traders after open interest rose to its highest level since last September, while positive net flows continued among traders using market orders.
However, oil price volatility and diminishing expectations for interest rate cuts in 2026, driven by Middle East tensions, ultimately impacted the leading altcoin.
As a result, Ethereum experienced a decline near its implied price level or the cost of purchase on the blockchain, around $2,310, indicating that investors preferred to wait after reaching break-even. Historically, this level has triggered distribution activities in case of weakening uptrends.
Exchange-traded funds (ETFs) listed on the U.S. spot market for the Ethereum network saw a shift toward net outflows, with investors selling approximately $192.1 million over the past two days. This move comes after six consecutive days of net inflows.
**Ethereum ETF flows. Source: SosoValue**
Markets are expected to maintain their downward bias as the weekend approaches, with nearly all asset classes declining at the start of the weekend.