Ethereum Climbs Back Above $2,100 With a Coiling Structure That Analysts Say Could Precede a Larger Move

Ethereum has gained approximately 5% on the day and 8% over the past week, pushing back above $2,100 for the first time since early March as a combination of macro tailwinds, institutional ETF buying, and a tightening technical structure converge at the same moment.

The move is not yet a breakout, but the conditions GainMuse identifies on the daily chart suggest one may be building.

According to Tradingview chart ETH trades at $2,151 at the time of writing, recovering from lows near $1,950 seen earlier in the week and from the $1,940 floor that marked the most extreme point of the recent correction. The two-hour chart captures the full shape of the recovery: a sharp move from $1,940 to $2,185 between March 2 and March 5 that represented the first real buyer response to the correction, followed by a pullback and consolidation phase between $1,960 and $2,080 from March 6 through March 12, and then a fresh acceleration on March 13 that has pushed price back toward the upper end of the recent range.

Volume on the most recent candles is the highest recorded since the March 3 spike, with the buy-side bar reaching 10 ETH on the two-hour chart, confirming that the latest leg higher is arriving with genuine participation rather than thin-market drift.

GainMuse Identifies a Coiling Structure

Crypto trader GainMuse published a daily chart analysis of ETH/USDT that frames the current price action as a coiling structure forming above long-term support, a pattern the analyst describes as one that could prepare a breakout rather than precede a continuation of the downtrend. The chart identifies an upward channel that has guided ETH’s broader base since the correction lows, a wedge pattern formed by converging trendlines compressing price into an increasingly narrow range, and a compression zone directly below a resistance line that has capped multiple recovery attempts.

GainMuse’s core observation is that ETH has stabilized after rebounding from the long-term support trendline, and that the tightening range suggests volatility is building beneath the surface while the broader up-sloping base continues to guide price behavior. Coiling structures of this type typically resolve in one of two ways: a confirmed push beyond the compression lid that allows price to challenge the higher resistance trajectory overhead, or a loss of the rising support structure that slows bullish pressure and potentially unwinds the base that has been building since the correction lows. The analyst’s framing leans toward the upside scenario without committing to it, noting that confirmation requires a push beyond the compression lid rather than just an approach toward it.

The Institutional Layer Underneath the Chart

The technical structure GainMuse maps does not exist in isolation. March 13 saw Ethereum ETFs record $72.40 million in total inflows, the largest single-day ETF flow for ETH in recent weeks and a figure that outpaced Bitcoin ETF inflows on the same session. BlackRock purchased 9,118 ETH worth $18.70 million through its ETF products, while Fidelity added 25,354 ETH worth $52 million, making Fidelity’s single-session Ethereum purchase the largest institutional ETH acquisition of the day by dollar value. BlackRock’s newly launched iShares Staked Ethereum Trust, which began trading earlier this week offering staking yield within a regulated brokerage account, appears to have accelerated broader institutional interest in Ethereum products beyond the staking vehicle itself.

The combination of institutional buying at this scale and the coiling technical structure GainMuse identifies creates an unusual setup. Large institutional inflows tend to reduce the available float of an asset, tightening supply at the same time that a compression pattern is tightening price range. When both dynamics are present simultaneously, the eventual breakout, if it occurs, tends to be sharper than either factor alone would suggest.

The Two Outcomes and the Level That Separates Them

At $2,151, ETH is approaching but has not yet cleared the compression lid visible on GainMuse’s chart. The $2,180 to $2,200 range, which capped the March 5 recovery attempt and has acted as resistance on multiple tests since, is the level that separates the two scenarios. A clean daily close above that zone with volume comparable to today’s session would be the first confirmation that the coiling structure is resolving upward and that the higher resistance trajectory GainMuse identifies becomes the next target.

Losing the rising support structure is the risk case. The $2,000 level, which was briefly broken during the March 7 to 9 correction and then reclaimed quickly, now functions as the most critical support on the chart. A return below $2,000 on meaningful volume would indicate that today’s move was a liquidity grab rather than the beginning of a sustained push, and would call into question the integrity of the up-sloping base that GainMuse’s entire bullish scenario depends on.

The 8% weekly gain is the strongest performance ETH has posted in several weeks. Whether it marks the beginning of the breakout GainMuse’s coiling structure suggests is possible, or simply the strongest week of a range-bound consolidation, is the question the next few sessions will resolve.

The post Ethereum Climbs Back Above $2,100 With a Coiling Structure That Analysts Say Could Precede a Larger Move appeared first on ETHNews.