Key Highlights
- Weekly MACD indicator on Ethereum shows upward curl, historically signaling potential price reversals
- ETH successfully retook the $2,100 threshold following strong support at the $2,000 mark
- Daily trading volume surged to $16 billion, representing a 100% increase as prices jumped over 5%
- Spot Ethereum ETFs attracted $120 million in net capital on April 6, with BlackRock’s ETHA dominating flows
- Technical analysts suggest a move beyond $2,150 resistance could trigger a rally toward $2,800
Ethereum has registered a sharp 5%+ gain over the last 24 hours, successfully breaking back above the psychologically important $2,100 price point that market participants have been monitoring. The upward movement followed President Donald Trump’s warning to Iran regarding Strait of Hormuz access, which temporarily reduced oil market concerns and boosted appetite for risk-oriented assets.
Daily trading activity surged dramatically during this price spike, with volumes climbing to $16 billion—more than double the previous day’s figures. This volume represents approximately 6% of Ethereum’s total circulating market capitalization.
The broader cryptocurrency market saw significant forced liquidations, with roughly $280 million in bearish positions eliminated during the rally. Bitcoin posted a 4% gain, while Solana climbed 3.5% and XRP advanced 3% during the same timeframe.
Prior to the bounce, the $2,000 price level proved resilient as a support floor, creating what technical analysts identify as a higher low formation on daily timeframes. Ethereum is currently challenging resistance near $2,150, a barrier that has rejected upward attempts several times recently.
Market analyst Ted presented a technical chart illustrating ETH’s rebound from a support confluence zone and its successful reclaim of $2,100. The analysis identifies key resistance barriers at $2,200, the mid-$2,400 region, and $2,624 beyond that.
$ETH has broken above the $2,100 level.
Yesterday I told you that if the $2,000 level holds, Ethereum could have one final pump.
IMO, ETH could tap the $2,200 zone before the next downtrend. pic.twitter.com/8uon0G4UGw
— Ted (@TedPillows) April 6, 2026
The Relative Strength Index has climbed above 55, now trading above its 14-period moving average. Technical analysts suggest that RSI movement past the 60 threshold could indicate sustained upward momentum.
Weekly MACD Indicator Hints at Momentum Reversal
Technical analyst Jake Wujastyk highlighted a weekly timeframe chart revealing Ethereum’s MACD beginning an upward trajectory from extremely oversold territory. The blue MACD line is progressing back toward the orange signal line following an extended bearish phase.
Historical analysis of this same chart pattern reveals comparable formations near previous cycle bottoms before significant price appreciation developed in subsequent weeks. While this setup doesn’t guarantee a breakout, it indicates potential exhaustion of selling pressure.
Market analyst Ali Charts identified the $1,800 level as a crucial support zone, characterizing the current price structure as a potential ascending triangle formation. His analysis suggests that if $1,800 maintains its role as the triangle’s foundation, a substantial rally toward $4,900 could materialize.
If the current Ethereum $ETH price action is an ascending triangle, then the $1,800 level is the “line in the sand.”
This price point serves as the triangle’s hypotenuse. If it holds as support, I believe it could trigger a rally toward the $4,900 x-axis. https://t.co/93y0hrWujz pic.twitter.com/sqIFaQKCG8
— Ali Charts (@alicharts) April 6, 2026
Institutional Capital Flows Through ETF Vehicles
Ethereum spot exchange-traded funds accumulated $120 million in combined net inflows on April 6. BlackRock’s ETHA product dominated with $60.8 million in single-session inflows, pushing its cumulative historical net inflow to $11.62 billion.
According to SoSoValue data, on April 6 (ET), Bitcoin spot ETFs recorded a total net inflow of $471 million; Ethereum spot ETFs saw a total net inflow of $120 million, with none of the ten ETFs recording net outflows. pic.twitter.com/5AO9Bg9xjZ
— Wu Blockchain (@WuBlockchain) April 7, 2026
Fidelity’s FETH product captured the second position with $40.1 million in new capital. Combined net assets across all Ethereum spot ETF products have reached $12.28 billion, accounting for 4.74% of Ethereum’s complete market capitalization.
The cryptocurrency Fear and Greed Index advanced from 23 to 38, transitioning from Fear territory toward Almost Neutral sentiment.
The CME FedWatch tool indicates that markets have removed expectations for any rate reduction through 2026, a factor that has created headwinds for risk-sensitive assets generally. Ethereum ETF products concluded the previous week with $42 million in net outflows before the directional reversal recorded on April 6.
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