Ethereum price prediction: $2,310 resistance in focus as ETH trades flat

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Ethereum drops 0.87% to $2,198.65 today

Highlights

Ether Machine terminated its SPAC merger with Dynamix, canceled its planned Nasdaq listing, and paid a $50 million termination fee.
Major Ethereum fund outflows totaled $52.8 million for the period, with year-to-date outflows surpassing $327 million, coinciding with a large institutional exit.
ETH price is expected to remain range-bound between $2,120 and $2,310 amid mixed momentum signals and weak trend conviction.

Major fund withdrawals and deal termination deepen bearish market flows

Ether Machine terminated its planned SPAC merger with Dynamix and canceled its intended Nasdaq listing, also halting the launch of a $1.5 billion Ethereum fund that was to trade under the ticker ETHM on April 12, 2026. As part of this decision, Ether Machine paid $50 million to Dynamix under the termination agreement. On the same date, Trend Research exited its Ethereum position by selling approximately 651,757 ETH, while ETHZilla rebranded to Forum Markets as it abandoned its Ether accumulation strategy. Additionally, Ethereum funds recorded outflows of $52.8 million, pushing year-to-date outflows above $327 million.

Mixed momentum as oscillators diverge near major support and resistance

ETH is trading at $2,198.65, above both the SMA-20 ($2,118.19) and SMA-50 ($2,080.30) but well below the SMA-200 ($2,918.52), signaling short- and medium-term bullishness with a longer-term bearish overhang. The Ichimoku Kijun on D1 sits at $2,144.41, which now acts as immediate support for the current price. Momentum signals are mixed: D1 MACD remains in buy territory, but a weak ADX (13.14) suggests the trend lacks conviction. D1 RSI (54.05) and CCI (93.17) hint at modest upward momentum, but the Stoch RSI warns of a strong sell setup, showing divergence among oscillators. BBP is at 119.90 (“Overbought”), indicating recent dominance by buyers, though daily action has slipped 0.87% from the previous session, with no meaningful gap between the previous close and today’s open. The price currently hovers near the middle of today’s range ($2,183.55 – $2,208.99), with volatility appearing moderate and tone reflecting sideways consolidation after selling pressure early in the session. AO aligns with the short-term buy trend, but overall there is clear divergence between intraday momentum and oscillators.

Downside bias as mixed signals cloud five-day outlook

For the coming five trading days, ETH is expected to trade in a volatility band between $2,120 and $2,310. The probability of a price increase is very low (less than 20%), making a further decline the more likely scenario. The baseline scenario anticipates sideways activity within this range, given the mixed signals from momentum and volatility indicators. A bullish scenario would require a decisive breakout above resistance near $2,310, while a bearish move could develop if support at $2,120 fails and opens room for further downside.

Anton Kharitonov, analyst at Traders Union, sees ETH trapped between mixed technical and sentiment signals. He notes that key fundamentals, like halted institutional launches and persistent fund outflows, weigh heavily on price action despite near-term bullishness above the SMA-20 and SMA-50. Kharitonov remains skeptical, citing weak momentum and a very low probability of a sustained rally. "Until ETH can reclaim the SMA-200 at $2,918.52 and reverse negative fund flows, upside scenarios remain unreliable and defensive positioning is warranted."

Earlier, analysts noted that while Ethereum displayed near-term bullish momentum, persistent mixed signals and significant capital outflows warranted a cautious stance. The latest developments—marked by high-profile fund withdrawals and the cancellation of major Ethereum investment vehicles—add to the downside risk, making the sustainability of key support at $2,120 crucial for traders to monitor in the days ahead.

Source of Data: ETH Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.