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Ethereum has repeatedly failed to break above the $2,400 level, hitting resistance on four separate occasions starting April 14 and forming a triple-top pattern on daily timeframes. During Monday’s trading session, ETH fell 3.4% to $2,287, extending a sequence of unsuccessful breakout attempts.
The 100-day exponential moving average is located around $2,350 and has acted as persistent overhead resistance. Daily candle closes have not managed to establish above this level, limiting upward momentum.
Michaël van de Poppe of MN Capital pointed to deteriorating conditions in the ETH/BTC pair. The ratio dropped below the 0.032 BTC threshold, breaking a support boundary that had previously helped maintain a bullish structure. The ratio also moved beneath its 21-period moving average, indicating weakening relative strength versus Bitcoin.
“As long as it stays below 0.032 [$BTC], I'm not interested until I see a clear bottoming formation or when it tests 0.026.” — Michaël van de Poppe (@CryptoMichNL), April 27, 2026
For the ETH/BTC pair, the next higher-timeframe support zone is around 0.026 BTC, a level where demand has historically emerged.
Market participants are closely monitoring $2,150 as a pivotal zone. The level previously functioned as overhead resistance before turning into support. If it fails to hold, Ethereum could test the $2,050 to $1,900 corridor.
CoinGlass data indicates that more than $2.5 billion in leveraged long contracts are positioned just beneath $2,150. A breach of this threshold could trigger a cascade of forced liquidations.
On Binance, Ether’s open interest has fallen to $2.58 billion, aligning with concentration levels seen when ETH traded near $2,200 earlier in April. The funding rate is currently around -0.013%, the lowest measurement since February, with short positioning increasing relative to longs.
Amr Taha noted that the combination of reduced leverage and shorts-dominant positioning can create conditions for a potential short squeeze if ETH holds its current price floors.
Crypto Patel shared a two-week timeframe chart on X showing ETH trading near the lower boundary of an extended rising channel. The $1,700 to $2,250 range is described as a liquidity capture and accumulation territory, with support structure dating back to 2022.
In that view, the next resistance above current levels is near $2,480. Further resistance is identified across the $3,500 to $4,900 zone, which includes the prior all-time high area around $4,876.
James Easton also posted a three-day chart on X highlighting a recurring pattern in which large rallies have followed significant retracements. A white indicator marks the 2026 low point, suggesting ETH may be forming another base. However, both technical perspectives stop short of confirming an imminent bullish reversal.
For a constructive thesis to strengthen, Ethereum would need to defend the accumulation territory and reclaim $2,480. In the near term, $2,150 remains the decisive level where technical support intersects with concentrated liquidation exposure on the daily chart.
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