Ethereum (ETH) price holds above $2,000 as open interest surpasses $21 billion, signaling potential bullish momentum

ETH maintained its position above the $2,000 mark on Monday as traders rotated capital into low-cap altcoins and memecoins.

Ethereum (ETH) held above the $2,000 price point on Monday as traders booked some profits on the recent rally in low-cap altcoins and memecoins.

ETH price slipped by 4% on Thursday, March 27. However, the crypto’s open interest is still above $21 billion, signaling sustained market participation.

Meanwhile, a key $4 billion resistance cluster has emerged around $2,220, according to Ethereum’s 30-day liquidation map. This suggests that traders will encounter significant resistance if bulls attempt to push ETH price higher in April 2025.

After spending much of last week consolidating below $2,000, new demand for ETH spot markets emerged on Monday.

The combination of the Federal Reserve pausing its rate hike cycle and slowing inflation in the U.S. also helped to generate a positive start to the week across crypto markets.

But despite the early bullish moves, ETH has struggled to decisively break the $2,100 resistance.

As of Thursday, March 27, at 12:45 p.m. ET, ETH was trading at $2,065, down 2% over the past 24 hours. On the upside, ETH price has now remained above the $2,000 mark for three consecutive days.

This resilience is a testament to the sustained interest in Ethereum as traders capitalize on the cryptocurrency’s bullish momentum in March 2025.

The Countertops: ETH Derivatives Signals Suggest Further Gains In April 2025Although ETH has yet to pierce through the $2,100 barrier, a closer look at derivatives market data suggests that bullish sentiment is brewing. Key metrics suggest a potential breakout as April 2025 approaches.

Coinglass’ Open interest chart, which captures the total capital locked in active futures contracts, showcases a sustained rise since mid-March. This trend aligns with the release of U.S. CPI data indicating slowing inflation, which in turn boosted investor confidence.

Ethereum’s open interest dropped to a weekly low of $17.3 billion on March 10. However, it has since experienced a significant recovery.

As traders seek out new investment opportunities, speculative traders have been pouring fresh capital into ETH futures markets.

At present, ETH open interest stands above $21 billion, marking a $4 billion increase over just three weeks. This influx of capital suggests that traders are positioning for further upside in April 2025, potentially setting the stage for a bullish breakout.

The Post: Ethereum Liquidation Map Signals $1,950 Support Vs $2,050 Resistance

Beyond open interest, another factor suggesting a bullish outlook is highlighted by Ethereum’s 30-day liquidation map.

This map tracks the total leverage deployed at critical ETH price levels. It provides valuable insights into the strength of traders’ convictions and the potential impact of liquidations on price movements.

According to the latest data from Coinglass, currently, ETH bulls have a greater presence, having committed $3.3 billion in active long positions, compared to $2.95 billion from short positions. This creates a $3.05 billion long-side advantage, showcasing a 10% dominance of bullish traders over bearish ones in the prevailing market sentiment.

The Zoom: Key Ethereum Price Levels To Watch

On the bearish side, a critical support level to watch is $1,974, where $486 million in leveraged positions are concentrated. If ETH price drops below this level, cascading liquidations could occur, pushing prices toward the next major support at $1,864. At this level, traders have deployed $2.37 billion in leverage.

On the bullish side, the first resistance to overcome is at $2,037, where $203.6 million in leveraged short positions is largely deployed. A sustained close above this level could set the stage for a breakout toward $2,110.

At this price point, the largest bearish cluster of $1.25 billion is waiting, and breaking through it could pave the generation of further bullish momentum to test the $2,500 range as April 2025 approaches.

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