Gate News reports that on March 18, Ethereum’s price for the first time since early February surpassed $2,300, currently trading around $2,330. On-chain data shows that exchange inflows have dropped to a 10-month low, with investors preferring to transfer tokens to cold wallets or private wallets, reducing selling pressure. This tightening supply may make the price more sensitive to demand changes.
Recent large whale purchases are a key factor driving the price up. According to CryptoQuant, large wallets holding between 10,000 and 100,000 ETH accumulated over 540,000 ETH last week, while retail investors sold about 370,000 ETH during the same period, indicating a clear reduction in selling pressure. Net outflows from exchanges dominate, suggesting the market is accumulating rather than selling. The US spot Ethereum ETF has experienced five consecutive days of net buying, totaling $248 million, the first such streak since mid-January.
Technical indicators show that Ethereum’s current trading price is above the 20-day and 50-day exponential moving averages, which are around $2,100 and $2,220 respectively. The Relative Strength Index (RSI) remains around 60, indicating steady buying pressure. Short-term resistance is between $2,380 and $2,400. If the closing price breaks above $2,388, it could target the $2,500 to $2,746 range. Support levels are at $2,320, $2,260, and $2,150. Falling below $2,260 may trigger a CME futures gap fill down to around $2,117.
In the futures market, ETH liquidation over the past 24 hours reached $100.5 million, with $68.2 million coming from short positions. Monthly chart analysis shows Ethereum has held key support zones between $1,900 and $2,100, which have previously provided structural support. Analyst CW notes that ETH has filled a previous gap and formed a new CME gap at $2,117, which could provide short-term support for the price.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
ETH/BTC ratio rebounds—are institutional funds rotating? A deep dive into structural signals in the crypto market
BTC breaks through $75,000; the Iran–Israel ceasefire and fresh highs in U.S. stocks lift risk assets, but the options market remains somewhat cautious. The ETH/BTC ratio rebounds, signaling capital rotation.
GateInstantTrends42m ago
Whale Deposits 3,500 ETH to Aave V3, Borrows 8M USDC, and Buys Back 3,386 ETH
A whale deposited 3,500 ETH worth $8.26 million into Aave V3, borrowed 8 million USDC, then purchased 3,386 ETH and redeposited it, now holding 6,886 ETH valued at around $16.22 million.
GateNews51m ago
BitMine’s quarterly net loss was $3.81 billion, with ETH’s unrealized losses accounting for 99%
BitMine Immersion Technologies filed its financial report with the SEC on April 15, 2026, showing that the company’s quarterly net loss as of February 28 totaled $3.81B, mainly due to unrealized losses from its Ethereum holdings. The company holds about 4.87 million ETH, with an average purchase cost of $3,794 per ETH. Its recent market value exceeded $10.7 billion. The BMNR stock has been upgraded to the New York Stock Exchange, and the current quote is $21.69.
MarketWhisper52m ago
Calastone token network access of $68 billion, L&G fund supports same-day settlement
Legal & General Asset Management（L&G AM）announced that it has successfully moved more than £50 billion of its liquidity funds on-chain through a tokenized distribution network built with Calastone, supporting T+0 settlement and multi-currency pricing. This deployment is based on Ethereum, and it plans to expand to more blockchains in the future while ensuring compliance with the regulatory framework.
MarketWhisper4h ago
Ethereum Foundation Member Trent Van Epps Announces Departure
Trent Van Epps has left the Ethereum Foundation after five years, expressing gratitude for his team's collaboration on upgrades and funding. He will still contribute to Protocol Guild and Ethereum's political economy.
GateNews5h ago
Matrixport-Linked Entity Closes 25,000 ETH 20x Long Position After 65 Days, Realizes $17.32M Profit
A Matrixport-linked entity has closed its final 25,000 ETH long position, gaining $17.32 million after 65 days. Previously, it also realized $48.19 million from 1,150 BTC and 95,000 ETH positions, with an unrealized profit of $8.1 million remaining.
GateNews7h ago
