Ethereum tests double-top resistance near $2,163 as 4H MACD turns bullish

Ethereum is trading at $2,051.80 on April 3, 2026, holding within a rising parallel channel that has remained intact since the February lows. Two consecutive rejection candles in the $2,163-$2,166 zone on both the 4H and daily charts have formed a double-top structure at the channel’s upper boundary. With $6.3 billion in Ethereum options expiring today and CME futures offline for Good Friday, traders are entering a thin-liquidity weekend that could magnify any directional move.

Rising Channel and Double-Top Structure

On the 4H chart, Ethereum is trading between channel support near $2,024 and resistance at $2,163. The 4H Supertrend at $2,024.73 remains green, indicating the short-term trend has not flipped bearish. The 4H MACD histogram has crossed into positive territory at 1.19, with the MACD line at -3.39 crossing above the signal line at -4.58. The crossover is described as marginal but technically meaningful, and is the first since mid-March.

On the daily chart, the setup is more cautious. The daily MACD histogram is at -7.33, with the MACD line at -11.11 still below the signal at -3.78. The daily Supertrend at $1,980.92 remains green, suggesting the daily trend has not broken bearish. Two chart markers identify the double-top rejection zone at $2,163-$2,166. A daily close above $2,166 would invalidate the double-top pattern and position the rising channel upper trendline as the next target.

Key Levels, Price Targets, and Invalidation

Support: $2,024 (4H Supertrend) and $1,980 (daily Supertrend). A daily close below $1,980 would flip the daily Supertrend bearish and break the rising channel structure that has defined price since February, opening a move toward $1,900 as the next major floor.

Resistance: $2,069 (4H Supertrend upper band) as a near-term ceiling, followed by the $2,163-$2,166 double-top zone. A clean daily close above $2,166 would target $2,250 initially, with $2,300-$2,400 cited as a broader bull case if the channel’s upper trendline becomes the objective.

Invalidation levels: For the bullish channel thesis, a 4H close below $2,024 Supertrend support. For the bearish double-top thesis, a daily close above $2,200.

Options Expiry and Macro Context

Deribit data indicates approximately $6.3 billion in Ethereum options expired on April 3, with the spot price trading near the max pain zone for the expiry. AnalyticsInsight characterized the event as “more like a routine settlement than a major turning point,” noting that proximity to max pain reduces the likelihood of a large expiry-driven move in either direction.

Crypto.news reported that Ethereum fell 3.4% toward the $2,000 support on April 2 amid a broader market selloff linked to U.S.-Iran escalation and a $285 million Drift Protocol exploit on Solana. The article highlights that the 4H Supertrend held at $2,024 through that sell event as evidence of buyer resilience at the level.

Impact and What Traders Are Watching

A sustained hold above $2,024 into next week—especially if the 4H MACD histogram remains positive—is presented as the first concrete signal that bulls are regaining short-term control. If $2,024 fails, the double-top breakdown scenario and a move toward $1,900 are identified as the primary path to monitor.