Ethereum price today: $2,130
- Ethereum holds above $2,100 following President Trump’s statement that the US is in the final stages of negotiations with Iran.
- US sentiment in Ethereum continues to decline following a seven-day outflow streak in $ETH ETFs.
- Bulls are defending the $2,108 support level.
Ethereum ($ETH) holds above $2,100 on Wednesday following the latest developments surrounding the US-Iran crisis. US President Donald Trump said that the country is in the final stages of negotiations with Iran, but warned of further attacks if a deal isn’t reached.
“We’re in the final stages of Iran. We’ll see what happens. Either have a deal or we’re going to do some things that are a little bit nasty, but hopefully that won’t happen,” Trump told reporters on Wednesday.
Against that backdrop, amid strong inflation and rising US Treasury yields, interest in $ETH among US investors has continued to decline, as evidenced by the Coinbase Premium Index, which serves as a measure of US investors’ sentiment.
The index, which compares $ETH‘s prices on Coinbase and Binance, has plunged deeper into negative territory, maintaining a downtrend that began in late April.
US spot $ETH exchange-traded funds (ETFs) confirm the risk-off sentiment in the region, posting seven consecutive days of negative flows after recording $62.3 million in net outflows on Tuesday, according to SoSoValue data.
On the derivatives side, Ethereum’s futures open interest has added roughly 500K $ETH since Monday, partly covering the gap from its more than 1 million $ETH decline over the weekend following strong long liquidations.
Despite the price decline and liquidations, $ETH funding rates remained positive, suggesting bulls are buying the dip with leverage.
Ethereum Price Forecast: Bulls defend $2,108 support
On the daily chart, $ETH is extending its bearish bias as price holds beneath the 20-, 50-, and 100-day Exponential Moving Averages (EMAs), which are clustered between roughly $2,234 and $2,328. The loss of altitude below these trend filters leaves the pair capped by a dense overhead supply zone. At the same time, the Relative Strength Index (RSI) is near 37, and a deeply oversold Stochastic Oscillator (Stoch) hints that downside momentum remains dominant but could start to fatigue on further dips.
On the topside, initial resistance emerges at the horizontal barrier around $2,211, ahead of the 20-day EMA at $2,234 and the 50-day EMA at $2,247, with the 100-day EMA near $2,328 reinforcing a broader cap before the next hurdle at $2,389. Further north, $2,746 and $3,412 stand as medium-term resistance levels.
On the downside, immediate support is seen at $2,108, where a horizontal floor protects the recent pullback, with subsequent cushions at $1,909 and $1,741. A break below these would expose deeper supports near $1,524 and $1,405.
(The technical analysis of this story was written with the help of an AI tool.)
