Ethereum holds $2,100 as supply tightens: Is ETH recovery underway?
Ethereum's price is showing signs of stabilization around $2,100, indicating a potential shift from a bearish to a recovery phase. After a sharp decline in February, selling pressure has weakened, with the price forming a consolidation range between $1,900 and $2,300. The emergence of higher lows suggests buyers are stepping in during pullbacks, while failed breakdowns below $1,900 point to possible bear traps.
Derivatives data supports this transition, with Funding Rates near neutral and reduced aggressive short pressure. Open Interest has rebounded from $11 billion to $14 billion, indicating new positions rather than forced liquidations. Additionally, the Coinbase Premium Index is recovering toward neutral, signaling fading institutional selling pressure. These factors collectively suggest the market is moving from distribution to early accumulation, with cautious rebuilding of exposure as participants test whether demand can sustain higher price levels.
ambcrypto03/19 17:01