Ethereum is pressing the double resistance area at $2,163 after two consecutive rejections from the upper border of its corresponding ascending channel, while the corresponding MACD crossover on the side on the 4H chart raises the question of whether buyers can finally break through or the pattern will resolve to the bottom to $1,980.
Summary
- Ethereum is trading at $2,051.80, holding within the same ascending channel on both the daily and 4H sessions after a double rejection from the $2,163-$2,166 resistance area.
- The 4H MACD histogram recently turned positive at 1.19, indicating a bullish crossover, while the daily Supertrend at $1,980.92 remains green, indicating that the broader trend formation has not yet broken.
- A confirmed daily close above $2,166 targets $2,250-$2,300, while a loss of $2,024 Supertrend support opens the door to $1,980 and a possible $1,900.
Ethereum (ETH) is trading at $2,051.80 on April 3, 2026, holding within the corresponding channel that has been in place since February’s decline. Two consecutive rejection candles in the $2,163-$2,166 area, clearly marked on both the 4H and daily charts, have created a double top structure at the upper boundary of the channel. With $6.3 billion in Ethereum options expiring today and CME futures offline on Good Friday, traders are facing a less liquid weekend that could amplify any upside moves.
On the 4H chart, Ethereum is trading between lower channel support near $2,024 and upper resistance at $2,163. The 4H Supertrend at $2,024.73 is still green, confirming that the short-term trend has not changed. Even more noteworthy, the 4H MACD histogram recently fell into the positive zone at 1.19, with the MACD line at 3.39 crossing above the signal line at -4.58. This is a small but technically meaningful bullish crossover, the first since mid-March.
In the daily chart, the picture is very cautious. The MACD histogram sits at 7.33, and the MACD line at -11.11 is still below the signal at 3.78. The daily Supertrend at $1,980.92 remains green, which means that the daily trend has not been broken. The two orange markers on the chart pinpoint the double rejection zone at $2,163-$2,166. A daily close above $2,166 would make the double top invalid and confirm the channel’s uptrend as the next target.
Key Levels, Price Targets, and Limitations
Support is placed at $2,024 (4H Supertrend) and $1,980 (daily Supertrend). A daily close below $1,980 would reverse the daily bearish Supertrend and break the channel structure that has defined the price since February, opening a move to $1,900 as the next major floor.
Resistance: the $2,069 area (the upper band of the 4H Supertrend visible on the chart) serves as a nearby ceiling, then a double zone at $2,163-$2,166. A clean daily close above $2,166 is aimed at $2,250 initially, with $2,300-$2,400 as a scope if the upper trend line of the channel is the target.
Invalidation of the efficient channel thesis: the 4H closes below the $2,024 Supertrend support. Invalidity of the double bearish thesis: daily close above $2,200.
Expiration Options and Large Content
About $6.3 billion in Ethereum options expired on April 3, according to data from Deribit, with the spot price trading near the pain point of expiration. Analysts at AnalyticsInsight noted that the event “looks more like a normal settlement than an area of major change,” given the price’s near-pain potential, which limits the likelihood of a time-driven spike anywhere.
As crypto.news reported, Ethereum fell by 3.4% to the $2,000 support on April 2 during a broad market sell-off tied to the US-Iran escalation and the exploitation of the $285 million Drift Protocol in Solana. The fact that the 4H Supertrend held at $2,024 during that selling event is a reasonable sign of buyer strength at that level.
A continued hold above $2,024 heading into next week, especially as the 4H MACD histogram remains positive, would be the first tangible sign that the bulls are retaking short-term control. If $2,024 fails, a double breakout to $1,900 becomes the main scenario to watch.
