Ether reached 2.1 thousand dollars, but holding it requires two reasons

The price of Ether (ETH) reached a weekly high of $2,150 on Thursday, which is a key level for large ETH holders, but volatility in the crypto and stock markets continues to cause corrections below $2,000.

A daily close above $2,100 remains important as this level aligns with the cost base and the value of wallets holding 100,000 or more ETH. The guaranteed value tracks the last coin's value, providing a measure of profitability rather than a spatial reference.

Since 2020, Ether has traded below this whale group price only a handful of times, most notably during the 2022 bear market. The chart shows that after the perceived price level was tested as support, the price rebounded normally.

Futures market analyst Dom described the setup as “a nice clean look for the entire market,” showing an early week sweep near regional lows. Dom said the price is above the one-month rolling VWAP (volume-weighted average price) and the price position is higher, which is the upper limit of the price range where most of the volume traded last month.

VWAP measures the average trading price weighted by volume. A break above $2,140 could signal a short-term reversal in order flow, while failure to hold higher would keep the price within the established range.

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$1,800 remains a key price level to watch

CoinGlass data highlighted more than $220 million in liquid short flows over the past two days, wiping out excess profits. Right now, about $2.66 billion in aggregate long liquid exposure sits near $1,800, a pocket of liquidity that is undervalued.

Crypto analyst Pelin Ai has pointed out a significant change in funding rates on Binance. Earlier this month, ETH funding turned very negative as bullish positions piled up alongside Ether's price weakness. Following Tuesday's dip below $1,800, the funding rate has returned to positive territory by 0.23%, a sign that late-dated shorts have been squeezed out of their positions.

However, with the funding rate now higher, traders' positions seem to be tilted to the long side. If this trade gets crowded, it again increases the risk of a long-term squeeze near the $1,800 level, especially if the price stalls or reverses.

Market analyst Income Shark identified three technical barriers, including repeated supertrend rejections and channel resistance around $2,250.

SuperTrend uses volatility measured by Average True Range (ATR) to determine the trend direction. When the price trades below the indicator, the line turns red and acts as dynamic resistance. In the chart above, each rebound is rejected by the red band, indicating that sellers are in control.

The analyst added that before a sustained move above $2,500 takes shape, they should look for Ether to re-visit around $1,500, or see renewed buying interest.

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