Key Highlights
- ETH’s weekly MACD indicator shows early signs of curling upward, historically signaling potential price reversals
- Price action pushed back above $2,100 after successfully defending the $2,000 support zone
- Daily trading volume surged to $16 billion, representing a 100% increase in 24 hours following a 5%+ rally
- Spot Ethereum ETFs pulled in $120 million in net inflows on April 6, with BlackRock’s ETHA dominating flows
- Technical analysts suggest a clean break above $2,150 resistance could trigger a move toward $2,800
Ethereum has posted impressive gains exceeding 5% over the last day, successfully reclaiming the psychologically important $2,100 price threshold that market participants have been monitoring. The rally materialized following President Donald Trump’s public warnings to Iran regarding Strait of Hormuz access, temporarily alleviating oil market concerns and providing a boost to risk-on assets.
The price surge coincided with a dramatic expansion in trading activity, with volumes jumping past $16 billion across 24 hours. This trading intensity accounts for roughly 6% of Ethereum’s total circulating market capitalization.
Liquidations hit approximately $280 million in short positions throughout the broader cryptocurrency market during this upward movement. Bitcoin posted a 4% increase, while Solana climbed 3.5% and XRP advanced 3% over the identical timeframe.
The $2,000 price floor proved resilient before the rebound, establishing what technical analysts identify as a higher low formation on daily timeframes. ETH currently confronts resistance around $2,150, a barrier that has repeatedly rejected price advances in recent sessions.
Market analyst Ted published chart analysis highlighting ETH’s bounce from a confluence of support levels and its successful recapture of $2,100. His technical mapping identifies key resistance barriers at $2,200, the middle $2,400s, and $2,624 as subsequent upside targets.
$ETH has broken above the $2,100 level.
Yesterday I told you that if the $2,000 level holds, Ethereum could have one final pump.
IMO, ETH could tap the $2,200 zone before the next downtrend. pic.twitter.com/8uon0G4UGw
— Ted (@TedPillows) April 6, 2026
The Relative Strength Index has climbed beyond 55 while crossing above its 14-period moving average. Technical observers note that RSI advancement past 60 could indicate sustained upward momentum, based on the charting framework.
Weekly MACD Indicator Hints at Momentum Reversal
Trader Jake Wujastyk highlighted Ethereum’s weekly MACD formation, which demonstrates the indicator beginning to curve upward from significantly oversold territory. The blue MACD line is advancing back toward the orange signal line following an extended downward trajectory.
Historical analysis of similar technical configurations on weekly charts reveals they’ve frequently emerged near cyclical bottoms before substantial price appreciation in subsequent weeks. While this pattern doesn’t constitute a confirmed trend reversal, it suggests diminishing downside pressure.
Analyst Ali Charts identified the $1,800 zone as a crucial support level, characterizing the present price structure as potentially forming an ascending triangle pattern. His analysis suggests that sustained defense of $1,800 as the triangle’s foundation could catalyze an advance toward $4,900.
If the current Ethereum $ETH price action is an ascending triangle, then the $1,800 level is the “line in the sand.”
This price point serves as the triangle’s hypotenuse. If it holds as support, I believe it could trigger a rally toward the $4,900 x-axis. https://t.co/93y0hrWujz pic.twitter.com/sqIFaQKCG8
— Ali Charts (@alicharts) April 6, 2026
Spot ETF Activity Reflects Growing Institutional Appetite
Ethereum spot exchange-traded funds attracted $120 million in aggregate net inflows during trading on April 6. BlackRock’s ETHA product dominated flows with $60.8 million in single-session inflows, pushing its cumulative historical net inflow to $11.62 billion.
According to SoSoValue data, on April 6 (ET), Bitcoin spot ETFs recorded a total net inflow of $471 million; Ethereum spot ETFs saw a total net inflow of $120 million, with none of the ten ETFs recording net outflows. pic.twitter.com/5AO9Bg9xjZ
— Wu Blockchain (@WuBlockchain) April 7, 2026
Fidelity’s FETH product captured second position with $40.1 million in new capital. Aggregate net assets across all Ethereum spot ETF products currently total $12.28 billion, comprising 4.74% of Ethereum’s overall market capitalization.
The cryptocurrency Fear and Greed Index advanced from 23 to 38, transitioning from the Fear category toward Almost Neutral territory.
The CME FedWatch tool indicates market participants have eliminated expectations for rate cuts through 2026, creating headwinds for risk-sensitive assets across financial markets. Ethereum ETF products concluded the previous week with $42 million in net outflows before the sharp inflow reversal registered on April 6.
