Ethereum Price Prediction: ETH Holds $2,200 Support as Whales Absorb Selling

Key Insights:tmp

• Ethereum price holds near $2,200 support while $2,400 remains key resistance.
• Whales appear to be absorbing retail selling as ETH consolidates near support.
• A breakout above $2,400 could open a move toward $2,624 and then $3,000.

Ethereum price is trading near $2,285 after falling more than 2% over the past 24 hours. The token remains below the $2,400 resistance zone, but several market indicators suggest buyers are still defending key support levels. Analysts now point to a mix of chart patterns, liquidation data, and whale activity as ETH prepares for its next major move.

Ethereum Price Still Faces $2,400 Resistance

Ted Pillows said Ethereum price is still struggling below the $2,350–$2,400 resistance zone. His chart showed the top altcoin repeatedly failing to reclaim this area, which remains the main level for bulls to flip. Until that happens, the market may stay exposed to another downside move.

ETH price is currently holding above the $2,150–$2,200 support area. This zone has acted as an important demand region after the recent recovery from lower levels. If buyers defend this support, Ethereum price could make another attempt toward $2,400.

However, failure to hold this range would weaken the structure. Ted’s chart shows a possible move back toward the $1,790–$1,700 zone if sellers regain control. That would place Ethereum back near the broader accumulation area formed after the sharp February decline.

On the upside, a clean breakout above $2,400 would improve the short-term trend. It could open the path toward $2,624 first, then the $2,780–$2,860 resistance zone. A stronger move could later bring the $3,100 area into focus.

ETH Cup and Handle Setup Points to $3,000

More so, Sky said Ethereum price may be forming three cup-and-handle patterns on the daily chart. The setup shows a rounded recovery structure followed by smaller pullbacks near resistance. This often reflects gradual accumulation before a potential breakout.

The chart places the key breakout line near $2,389. ETH price has tested this region but has not yet secured a clean daily close above it. If price clears that level, the pattern points toward the $3,000 area.

Notably, the analyst said Ethereum price may appear inactive to many traders. However, the chart suggests the price is building pressure beneath resistance. This creates a situation where a breakout could surprise the market if momentum returns.

The projected target zone sits between roughly $2,950 and $3,300. That aligns with the next major resistance band on higher-timeframe charts. Still, ETH needs volume and follow-through above $2,400 before this setup gains stronger confirmation.

Leverage Reset May Reduce Downside Pressure

Meanwhile, derivative positioning is also changing. CW noted that highly leveraged long positions on Ethereum have decreased significantly. At the same time, short positions have increased slightly.

This matters because excessive leverage often creates downside risk. When crowded long positions are liquidated, the price can fall quickly. However, CW said most greedy long positions have already been flushed out.

The liquidation map shows a price near $2,268.5, with heavier liquidation zones now sitting above current levels. This suggests that a move higher could begin targeting short positions. In that case, short liquidations may help push ETH back toward the resistance level.

However, the scale of high-leverage positions is not large. That means the market may not see an extreme liquidation-driven move unless new leverage enters. Even so, the reset gives bulls a cleaner structure than before.

Whales Absorb Retail Selling Pressure

CW also pointed to whale behavior around Ethereum. According to the shared order-flow chart, whales appear to be absorbing selling volume from retail investors through buy orders. This suggests that larger buyers are coming into the picture as smaller traders keep selling amid weakness.

The chart shows ETH moving lower, yet green buy zones keep forming below the price. That indicates that demand is still ongoing at current levels. Meanwhile, red sell pressure above the market is fading, which could ease resistance if buyers keep defending support.

This whale absorption aligns with the broader support area between $2,150 and $2,200. It also suggests Ethereum is still consolidating, rather than entering a clear breakdown. However, buyers need to turn that accumulation into stronger price action for the bullish setup to remain valid.

Ethereum price remains trapped between support and resistance. Bulls must defend $2,150–$2,200 while pushing through $2,400. If they succeed, ETH could target $2,624 and then $3,000.

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