Ethereum Stuck Between $1,950 and $2,100 Trap

 Key Insights:

• Ethereum whale unrealized profit ratio nears zero as price struggles around $2,000 level.
• Major liquidation clusters sit at $1,950 support and $2,100 resistance zones currently.
• Historical whale underwater phases aligned with past Ethereum market cycle bottoms.

Large Ethereum holders are facing growing paper losses as price struggles to regain higher levels. On-chain data tracking wallets holding 1,000 to more than 100,000 ETH shows the unrealized profit ratio has moved close to or below zero. When the metric drops under zero, it means these holders are sitting on losses based on their average purchase price.

Crypto analyst Kamran Asghar said,

Notably, Similar conditions appeared in late 2018, March 2020, and mid-2022. In those periods, deep negative readings formed during broad market declines.

Past Cycles Show Similar Trends

Historical data shows that whale unrealized profit rises during strong rallies and falls sharply in bear markets. When Ethereum enters extended downturns, the metric often turns negative as prices move below large holders’ cost basis.

In prior cycles, sustained underwater phases appeared close to major lows. The current decline has pushed the ratio lower, though the depth remains less severe than previous bear market extremes. Losses are increasing, but they have not reached the levels seen during earlier capitulation phases.

Key Liquidation Levels in Focus

Short-term derivatives data shows Ethereum trading between two clear liquidation zones. A concentration of short liquidations sits near $2,100, while a cluster of long liquidations is visible around $1,950.

Market commentator Ted Pillows wrote, “$ETH has 2 major liquidity zones right now in the short term.” If price moves toward $2,100, short sellers may face forced closures. A drop toward $1,950 could trigger long liquidations and add selling pressure.

Ethereum Price Holds Near $2,000

Ethereum was trading at $2,009.81, with a 24-hour gain of 6.68%. Over the past seven days, the asset is up 3.04%. Trading volume over the last day reached $23.24 billion.

Price remains between the $1,950 support cluster and the $2,100 resistance cluster. On-chain data shows whale losses building, while derivatives positioning points to possible volatility if either level is tested. Market activity remains concentrated within this narrow range.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.