Ethereum is nearing a technology level that analysts say could shape the next market move. At the same time, liquidation data shows a concentration of short positions just above the resistance zone.
Ethereum approaches $2,100 breakout level as resistance fades
A chart shared by analyst CW shows Ethereum approaching a key resistance level near $2,100. This level has acted as a ceiling in recent trading, with prices repeatedly decelerating after approaching this level.
Ethereum hourly chart. sauce: C.W.
According to the chart, the zone around $2,100 is the first major barrier to the current structure. When prices reach that level, traders often focus on whether the market can maintain its momentum and pass through that level. A breakout above such levels typically relies on sustained buying pressure and strong volume.
This analysis highlights that the resistance thins out significantly beyond this point. CW points out that if Ethereum clears the $2,100 level, the next significant resistance zone will not emerge until around $2,350. This gap between levels may allow price to move more freely before encountering the next supply area.
Below the current structure, the chart identifies a support zone around the $1,930 to $1,970 range. These areas had previously attracted buying interest during the recent sell-off. If Ethereum fails to break above resistance, traders are likely to monitor these levels as the next support area.
For now, Ethereum remains just below a major breakout level. Therefore, market participants are watching to see if the price can break above the $2,100 resistance and test the higher zone highlighted on the chart.
Ethereum Liquidation Map Shows Heavy Short Cluster Around $2,130
Meanwhile, a liquidation map shared by Blave highlights a large cluster of short-term liquidations around the $2,130 level on Ethereum. The chart shows where leveraged positions may be forced to close if the price moves into that zone.
Ethereum liquidation map. sauce: Brave
Liquidation maps track areas where leveraged traders may face forced exits. When the price reaches these levels, the exchange will automatically close positions that no longer meet margin requirements. As a result, multiple liquidations occur simultaneously in these zones, which can cause rapid market movements.
The chart shows that the maximum short sale liquidation amount is around $2,130. If Ethereum moves towards that level, it could trigger a series of short-term liquidations. Such events often increase buying pressure, as short positions must be closed by purchasing the asset.
Additionally, the liquidation map shows that open interest is accumulating on both sides of the market. However, the short-term cluster around $2,130 stands out as the most concentrated level above the current trading range. Traders frequently monitor these clusters as they can act as magnets for price movements.
For now, liquidation data highlights $2,130 as the primary zone where leveraged short exposure is concentrated. When prices approach that area, unwinding of positions may begin and market volatility may increase.
