ETH’s next big move depends on daily close above $2.1K: Data

💡 DMK Insight

ETH just crossed the $2,000 mark, and here’s why that matters: With ETH currently at $2,025.02, the bulls are trying to establish a solid support level above $2,000. A positive funding rate can encourage more long positions, but traders need to watch for whether this momentum can sustain itself. If ETH holds above this psychological level, it could trigger further buying interest, especially from retail traders looking to capitalize on any bullish sentiment. However, there’s a flip side. If we see a quick rejection below $2,000, it could signal weakness and lead to a cascade of selling, especially if stop-loss orders are triggered. Traders should keep an eye on the funding rates and holder profitability metrics; if they start to decline, that could indicate waning interest. Watch for key resistance around $2,100, as breaking through that could open the door for a more significant rally. For now, monitor the $2,000 support closely—it’s a critical level that could dictate ETH’s next move.