Ethereum Holds Above $2,100 Today, but Analysts Warn More Downside May Still Come

Jakarta, Pintu News – Ethereum (ETH) is signaling fresh gains after it broke through an important resistance level, while futures traders have started adding new long positions. However, analysts think that this rise is likely to be limited to a short-term recovery, with the potential for a drop to lower levels still open in the next half of 2026.

Then, how will Ethereum price move today?

Ethereum Price Drops 2.28% in 24 Hours

As of April 9, 2026, Ethereum was trading at around $2,179, or approximately IDR 37,293,158, after slipping 2.28% over the past 24 hours. During that same period, ETH moved within a range of IDR 36,960,695 to IDR 38,582,216.

At the time of writing, Ethereum’s market capitalization stood at roughly IDR 4,490 trillion, while its 24-hour trading volume had dropped 20% to IDR 316.03 trillion.

Read also: Bitcoin Touches $70,000 Today as Bullish Signal Sparks Move Toward $78,000

Ethereum Hangs on to Breakout Area, but Analysts Beware of Potential New Declines

Ethereum seems to be trying to continue its recovery, but one analyst thinks this movement is not enough to confirm a broader trend reversal.

In a chart shared on X, Ted Pillows said ETH managed to break the resistance zone in the range of $2,150 to $2,200. The chart shows Ethereum trading at around $2,257 against Tether on the daily timeframe. Additionally, the levels of $2,400.73 and $2,624.07 are marked as the next resistance if the price is able to hold above the breakout area.

Based on the post, Ethereum needs to stay above $2,200 to keep its short-term structure positive. If that happens, the asset has a chance to move towards last month’s high. The chart also shows a possible further rise, first to the $2,400 area, and then towards $2,624.

Even so, analysts cautioned against taking this move as the start of a new bull run. Although ETH has risen past the highlighted resistance area, the post said a new low is still possible in the second or third quarter of 2026. This means that the current rebound could just be a temporary recovery amid a generally weak trend.

The chart also supports a more cautious view. ETH is still well below the previous peak levels seen at the top of the moving range. Moreover, the figure also highlights a lower support area in the range of $1,750 to $1,800, which suggests downside risks still exist if the breakout fails to sustain.

For now, the $2,200 level is the most important area to watch. If Ethereum is able to hold above it, the bullish side will likely try to push the price to $2,400, and then to $2,624. However, if ETH drops below that level again, the recovery scenario could weaken and bring the lower support area back into focus.

Inflows into Ethereum Futures Increase as Net Long Positions and Open Interest Rise

Ethereum futures market activity has shown an increase again as new capital enters into long positions, according to a post by an X user named CW.

Read also: Solana Presents STRIDE and Incident Network to Enhance Security

The post states that the flow of funds into the ETH futures market has increased again. At the same time, net long positions and open interest have both increased. This combination generally signifies more traders entering the market, with most of them taking positions that point to the potential for further price increases.

In the derivatives market, open interest reflects the total number of active futures contracts. When open interest rises alongside an increase in net longs, it often means that traders are adding new bullish exposure, rather than simply closing out old positions. As such, the movement could indicate growing confidence in Ethereum’s price direction in the short-term.

However, an increase in open interest does not automatically ensure that prices will continue to rise. It only shows that more leveraged positions are being formed. If Ethereum fails to hold important support levels, those positions could unwind quickly and add pressure to the downside.

Overall, the posts indicate that sentiment in the ETH futures market is improving. Funds are coming in and market participants are inclined to go long. However, whether this will develop into a sustained rally remains dependent on price strength in the spot market as well as Ethereum’s ability to hold above nearby support levels.

Follow us on Google News to stay up to date with the latest in crypto and blockchain technology. Check Bitcoin price, usdt to idr and tokenized nvidia stock price through Pintu Market.

As a safe crypto app, Pintu provides a crypto trading experience to access crypto gold investment easily and conveniently. You can also see today’ s gold jewelry price and today’s gold bullion price to support your investment activities and portfolio diversification as well as learn crypto through Pintu Academy.

Download the Pintu crypto app via Play Store or App Store now. Enjoy web trading experience with advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro.

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coinpaper. Ethereum Price Prediction: Can ETH Hold Above $2,200? Accessed on April 9, 2026