Analysts say that this should be the case for Ethereum to break through resistance at $2.2K

Ether (ETH)'s 9% rally stalled at $2,200 on Monday amid strong profit resistance and weak ETF demand. Still, technical and onchain formations suggest that the upward momentum may increase as long as ETH remains above the $2,000 mark.

Main Receptors:

Ether bulls should turn the $2,200 level into new support.

Spot ETFs continue to decline, indicating increasing institutional selling pressure.

Ether needs to recover $2,200 to confirm the split.

Data from TradingView shows that ETH price is stuck between two key trend lines: the 50-day Exponential Moving Average (EMA) at $2,200 as resistance and the 50-day SMA at $2,000 as support.

RELATED: Ethereum Could See 25% Rally As Richest ETH Whales Return To ‘Profitable Mode'

ETH bulls now need to retrace the 50-day EMA to ensure a sustained recovery to $3,000.

ETH/USD last broke out of such territory in May 2025, sparking a 50% rally in less than seven days.

A break above $2,200 would confirm a potential upside from a balanced triangle pattern, with a measured target of $3,080, or 42% from current levels.

But before that, the bulls should face strong resistance between $2,780 and $2,880 where the 200-day EMA, 50-week EMA and 100-week EMA converge.

Glassnode's cost base distribution heat map shows peak accumulation at 2,750-$2,850, with investors earning more than 7.5 million ETH.

In particular, between the $2,200 and $2,700 cost-basis cluster, there is relatively low supply, meaning that a break above the current range would allow the price to move freely towards major overhead resistance.

On the upside, dense stock is sitting around $1,850, with investors having previously earned 1.3 million ETH.

If the $1,850-$2,000 support enters, the next leg down to the bearish triangle target at $1,400 is possible.

“$ETH failed to recapture the $2,100 level and is now declining,” analyst Ted Trass said in a Monday post on X:

“The only critical support level for Ethereum right now is $2,000 and if ETH loses it, the bulls will accelerate to new lows.”

According to Cointelegraph, a hold above $2,000 would keep the medium-term trend intact, while a break below would turn the position into aggressive short exposure, focusing on lower targets.

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One of the possible reasons for ETH's rise in price is the improvement in institutional interest, which has been reduced by exits from spot Ether exchange-traded funds (ETFs) over the past four days.

Glassnode data shows that the 30-day average of US spot ETH ETF flows is returning to negative territory after a brief period of flows.

If flows are able to re-accelerate into consistent positive territory, it will strengthen the case for a renewed trend continuation for ETH.

Similarly, investors reduced exposure to global Ethereum investment products, which recorded net outflows of more than $27.5 million at the end of March 20.

Meanwhile, since August 2025, the number of Ethereum treasury companies buying ETH on a daily basis has decreased significantly, reinforcing the decline in institutional demand.

Tom Lee's Bitmain Immersion Technologies, the largest corporate Ethereum custodian, is the only company that seems to be buying, adding $139 million worth of ETH last week.

Bitmine's total ETH holdings are now 4.66 million ETH, which is close to the goal of achieving 5% of the token distribution supply.

⚡️ Latest: Bitmine ($BMNR) now has $4.66 million in ETH and $11 billion in total crypto and cash. pic.twitter.com/mijC9tANBN

— Cointelegraph (@Cointelegraph) March 23, 2026