ETH Surges $2,013 Before Pulling Back, Charts Signal Consolidation Phase

TheNewsCryptoPublished on 2026-03-09Last updated on 2026-03-09

Abstract

The cryptocurrency market saw a modest 0.49% increase, reaching a total market cap of $2.31 trillion, while the Fear and Greed Index remained at 19, indicating extreme fear for over a month. Ethereum (ETH) surged to a high of $2,013 before pulling back to $1,975, marking a 1.2% daily gain. Trading volume spiked over 80% to $20 billion. Despite this, ETH is down 3% over the past month and nearly 60% from its August 2025 peak of $71.93 million was liquidated in 24 hours, with longs accounting for $36.16 million. Technical analysis indicates ETH is in a consolidation phase between $1,820 and $2,100 after a prolonged downtrend. The RSI is at 44, and the MACD shows a positive crossover, though momentum remains bearish. Key resistance levels are at $2,020 and $2,100, with support near $1,920 and $1,850. A breakout above resistance could push ETH toward $2,200, while a drop below support may trigger further declines.

The day began with a modest uptick, as the overall crypto market rose 0.49%, bringing the total market capitalization to $2.31 trillion. Meanwhile, the Crypto Fear and Greed Index has remained at 19 extreme fear for over a month, reflecting persistent market caution.

According to CoinMarketCap, ETH reached a high of $2,013 today, and while writing the article, it was trading at $1,975, up 1.2% over the last 24 hours. Also, its daily trading volume has surged over 80% and stands at $20 billion. Overall, Ethereum is down over 3% for a month and down nearly 60% from its last peak at $4,953 at August, 2025.

With that, the CoinGlass derivatives data show that the open interest in the last 24 hours has increased by about 2.76%, where the liquidations data show that in the last 24 hours, around $71.93 million were wiped out, with the long position standing at $36.16 million.

ETH Charts Signal Consolidation Phase

While seeing the 1D chart of ETH/USD, it is posting a modest daily gain after a prolonged downtrend seen from mid-January to early February, as the price has entered a consolidation phase between roughly $1,820 and $2,100. While the technical indicators show slight improvement in momentum, while staying in the bearish zone. While the RSI is sitting at 44, and the MACD line is showing a positive crossover

With that, ETH faces short-term resistance at $2,020 and key resistance near $2,100, and a clear breakout might push the price toward the $2,200 level. On the downside, Ethereum’s major support is near at $1,920, and further down, it might reach the $1,850 level, below that, which may trigger another downward momentum

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Related Questions

QWhat was the high price of ETH reached today and what was its trading price at the time of writing?

AETH reached a high of $2,013 and was trading at $1,975 at the time of writing.

QAccording to the charts, what phase has the ETH/USD price entered?

AThe ETH/USD price has entered a consolidation phase between roughly $1,820 and $2,100.

QWhat does the Crypto Fear and Greed Index reading of 19 indicate about market sentiment?

AA reading of 19 indicates a state of 'extreme fear' in the market, reflecting persistent caution among investors.

QWhat are the key resistance and major support levels for Ethereum mentioned in the article?

AThe key resistance level is near $2,100, and the major support level is near $1,920.

QHow much did the open interest change and what was the total value of positions liquidated in the last 24 hours?

AThe open interest increased by about 2.76%, and a total of $71.93 million in positions were liquidated.

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