Ether’s (ETH) 9% rally on Monday stalled at $2,200 due to stiff overhead resistance and weak ETF demand. Still, technical and onchain setups suggested that upward momentum may increase as long as ETH stays above the $2,000 mark.
Key takeaways:
Ether bulls must flip the $2,200 level into new support.
Spot ETF outflows continue, reflecting increasing institutional sell pressure.
Ether price must hold $2,200 as support
Data from TradingView shows that ETH price is stuck between two key trend lines: the 50-day exponential moving average (EMA) at $2,200 acting as resistance and the 50-day SMA at $2,000 as support.
Related: Ethereum may see 25% rally as richest ETH whales return to ‘profitable state’
ETH bulls must now reclaim the 50-day EMA to ensure a sustained recovery toward $3,000.
The last time ETH/USD broke out of such a range was in May 2025, triggering a 50% rally in less than seven days.
ETH/USD daily chart. Source: Cointelegraph/TradingView
A break above $2,200 would confirm a bullish breakout from a symmetrical triangle pattern, with a measured target of $3,080, or a 42% rise from the current level.
Before this, however, the bulls would have to contend with stiff resistance between $2,780 and $2,880, where the 200-day EMA, the 50-week EMA, and the 100-week EMA converge.
Glassnode’s cost basis distribution heatmap shows a heavy accumulation at $2,750-$2,850, where investors acquired more than 7.5 million ETH.
Notably, there is a relatively low concentration of supply between $2,200 and the $2,700 cost-basis cluster, meaning a break above the current range may allow the price to move more freely toward the bigger overhead resistance.
ETH: Cost basis distribution heatmap. Source: Glassnode
On the downside, a dense accumulation cluster sits around $1,850, where investors previously acquired 1.3 million ETH.
If the $1,850-$2,000 support gives in, it could trigger the next leg lower toward the bearish target of the triangle at $1,400.
“$ETH failed to reclaim the $2,100 level and is now moving down,” analyst Ted Pillows said in a Monday post on X, adding:
“Now, the only crucial support level for Ethereum is…..
