Market analysts say Ether could be approaching a “regime shift” as buying pressure strengthens, but bulls must maintain support at $2,000.
Key takeaways:
- Ethereum (ETH) is showing resilience above the $2,000 level, with onchain data pointing to a revival in demand and hinting at a potential “regime shift” in market sentiment.
- However, analysts say a sustained trend reversal will depend on bulls defending the key support zone between $1,800 and $2,000.
Ether buyers appear to be “prevailing,” with derivatives data pointing to the formation of a stronger market bottom, according to CryptoQuant.
The platform’s net taker volume—an indicator of the imbalance between aggressive buyers and sellers in derivatives markets—has remained positive since March 6, signaling a return in demand for ETH derivatives.
While the metric had been mostly negative since 2023, it recently turned positive, peaking at around $140 million on March 16. It currently stands at roughly $104 million, indicating that buying pressure is dominant, CryptoQuant analyst Darkfost said in a post on X on Tuesday.
The analyst added that this marks the first time since the previous bear market that such a “regime shift” has been observed in Ethereum derivatives activity.
“If this dynamic persists and the spot market and ETFs begin to support the move, Ethereum could potentially restart a positive trend.”
Futures open interest (OI)—the total number of outstanding contracts yet to be settled—further supports this trend.
The metric currently stands at 6.4 million ETH, approaching its all-time high of 7.8 million ETH recorded in July 2025.
“After dropping to 5 million ETH in October, open interest has steadily recovered,” CryptoQuant analyst Darkfost said in a post on X on Sunday, adding:
“Derivatives markets on Ethereum remain highly active.”
Meanwhile, spot Ether ETF flows turned positive, with these funds posting $120 million in net inflows on Monday—their highest level since mid-March.
This suggests a renewed wave of demand from US investors after several days of outflows, which could support further upside in ETH’s price.
Ether price must hold above $2,000
On the charts, ETH/USD remains cautiously bullish as long as it stays above the $1,800–$2,000 support zone, where the 20-day exponential moving average (EMA) aligns with the lower boundary of a symmetrical triangle pattern.
“As long as the $2,000 support zone holds, Ethereum could see another move higher,” analyst Ted Pillows said in a post on X on Tuesday, adding:
“Losing the $2,000 level means a new yearly low could happen soon.”
The significance of this support level is further underscored by cost basis distribution, with data showing that more than 3.5 million ETH were accumulated around the $2,000 mark.
Below that, the next key support lies in the $1,750–$1,800 demand zone, where investors accumulated around 1.36 million ETH.
A breakdown below this level could trigger a sharper decline, potentially sending ETH toward the symmetrical triangle’s measured target near $1,460—about 30% below current levels.
As previously reported by Cointelegraph, holding the $1,800–$2,000 range would signal continued strength from bulls, who would then need to push the ETH/USD pair above the $2,400 resistance level to regain full control of the trend.
