ETH Price Drops After Losing 100-Day MA as $2K Test Looms
ETH price remains under selling pressure after failing to reclaim the $2.3K–$2.4K resistance zone. The asset recently lost the 100-day moving average near $2.15K and is now hovering around the lower boundary of a broader ascending channel near $2K, which the article says signals bearish control.
On the daily chart, the rejection suggests sellers are active on rebounds. If ETH cannot defend the channel support, a sharper move toward a major demand area around $1.8K becomes more likely. For bullish sentiment to improve, ETH would need to reclaim $2.4K after first stabilizing against overhead resistance.
On the 4-hour chart, ETH confirmed a bearish breakdown below an ascending wedge that had contained price for weeks. A recovery attempt toward the broken trendline was rejected, reinforcing the continuation risk. Price is now moving toward a key short-term support zone around $2.1K (described as a demand block).
If $2.1K fails, the next downside targets cited are roughly $2.0K–$2.05K. Resistance is listed near $2.2K and later $2.4K.
A 3-month liquidation heatmap shows heavy liquidity positioned above current price, especially around $2.45K–$2.5K. The article notes ETH appears to be tapping nearby downside liquidity around $2.05K–$2.1K, implying elevated volatility and that ETH may either sweep lower first or attempt a rebound depending on reactions at the $2.1K demand area. Overall, the ETH price setup leans toward consolidation with downside risk unless key levels are reclaimed.
Bearish
The article frames ETH price as losing momentum on multiple timeframes. Daily charts show rejection below $2.3K–$2.4K and a confirmed loss of the 100-day MA near $2.15K, often a sign that rallies can fail until the average is reclaimed. On the 4-hour chart, the bearish wedge breakdown plus rejection of the retest supports continuation risk.
Traders will likely focus on the $2.1K demand area: if it holds, short-term longs may defend and enable a rebound toward $2.2K/$2.4K. If it breaks, a faster liquidity-driven selloff toward $2.0K–$2.05K and potentially $1.8K can occur. The liquidation heatmap adds a volatility catalyst: larger liquidity sits overhead ($2.45K–$2.5K), but price is currently gravitating to nearby downside pools ($2.05K–$2.1K), suggesting downside may come before any meaningful upward attempt.
In similar past setups, when an asset loses a major moving average and simultaneously shows a wedge/breakdown on lower timeframes, short-term mean reversion rallies frequently get sold until the key level (here $2.1K/$2.15K and then $2.4K) is decisively reclaimed.