Sellers cap Ethereum below $2,150; downside targets shift to $1,750

ETH stalls at $2,060 under $2,150. On‑chain supply drains, but structure stays fragile.

Traders face a binary setup. Consolidation or breakdown. Price sits near $2,060 and compresses below $2,150 resistance source. One analyst keeps the “bearish structure” view tweet.

Exchange reserves hit multi‑year lows. Supply on exchanges keeps sliding, a historically bullish sign CryptoQuant. At the same time, large holders de‑risk. A whale reportedly offloaded $543M in ETH Coinspeaker. A dormant ICO wallet moved 100.27 ETH after 10.6 years, highlighting old supply waking up tweet.

Technical picture is indecisive. RSI sits neutral. Volume fades chart.

Key levels:
- Close above $2,150 to flip momentum source.
- Failure to reclaim $2,160 risks a bull trap and retest of $1,984, then $1,750 source.
- Breakout case targets $2,500 on pattern confirmation analysis.

Macro and narratives weigh. Sentiment lacks impulse. Liquidity constraints linger context.

First mention: Ethereum (ETH).