Ethereum Price Forecast: Bulls Traders Cluster at $2,100 as US NFP Data Introduces Fresh Risks
Ethereum price declined 8% in the last 24-hours, plunging below the $2,100 as as US Non-Farm Payroll (NFP) data introduces fresh volatility. The market reaction has kept ETH pinned below $2,142, struggling to establish a bullish recovery as sellers remain in control.
Ethereum price dropped below $2,100 on Friday, amid inflation readings in US NFP
Ethereum’s price decline below $2,100 on Friday underscores bearish dominance, exacerbated by heightened macroeconomic uncertainty stemming from the latest US NFP report. The payroll data, which came in hotter than expected, showing rising unemployment which raised concerns over persistent inflation, strengthening the case for a hawkish Federal Reserve stance.
Ethereum Price Analysis: 4-hourly Chart
Bears eyeing $2,000 on 4-Hour Chart
Ethereum price remains under downward pressure on the 4-hour chart after failing to break past the $2,319 resistance level. The rejection at this key price ceiling has reinforced bearish momentum, with the latest candlesticks showing increased selling pressure near the $2,156 pivot. A confluence of technical indicators signals potential downside risk toward the $2,000 psychological support level.
The Donchian Channel (DC) highlights the recent price contraction, with the upper boundary at $2,319 and the lower support band at $1,993.
The failed breakout attempt near the upper band suggests that bulls lack the strength to sustain a move higher, leaving the door open for further declines.
The price action is currently hovering around the middle DC line, signaling indecision, but with a tilt toward the downside as volume spikes on red candles. Bearish momentum is further evident in the breakdown from the highlighted price cluster, where Ethereum shed 7.53% over six consecutive 4-hour candles.
The red zone illustrates a liquidity flush, likely triggering stop-loss cascades from leveraged long positions, adding to the selling pressure. If the $2,156 support fails, Ethereum could slide toward $2,000, aligning with the lower Donchian boundary. On the flip side, a reclaim of $2,200 could reignite bullish sentiment and set up another test of the $2,319 resistance.
Ethereum Price Forecast: Daily time frame chart
Bulls Struggles Below $2,142—Will $2,009 Support Hold?
Ethereum price forecast signals continue to lean bearish on the 24-hour chart, struggling to hold above the $2,142 level after facing strong resistance at $2,258.
The latest daily candle reflects increased selling pressure, with ETH losing 2.73% in the session, confirming persistent bearish sentiment. The Keltner Channel (KC) highlights this downside momentum, as the price remains close to the lower band at $2,009, signaling the potential for further declines if the current support structure collapses.
A clear downward trajectory is evident as ETH price has remained below the middle KC line of $2,417, reinforcing the bearish control of market structure.
The sharp -7.53% drop over a single daily candle suggests that leverage liquidations could be playing a role in accelerating the selloff. If Ethereum fails to defend $2,100, a deeper retracement toward the $2,009 support appears likely, where buyers might attempt to reestablish control.
Despite the bearish setup, a bounce from current levels could shift momentum in favor of the bulls.
If Ethereum reclaims $2,200 and sustains a move above the $2,258 resistance, it could target the $2,417 mid-KC level, with an extended rally opening the door for a potential retest of $2,825. However, with volatility increasing and bears dominating, Ethereum risks further downside unless demand steps in decisively.
Ethereum Price Outlook Today
Ethereum’s technical landscape reflects conflicting signals balance between bearish macroeconomic pressures and potential short-term rebounds.
The 24-hour chart highlights key support at $2,009, while the 4-hour ETH price chart signals immediate downside risks following the rejection at $2,319. With NFP data suggesting sustained inflationary pressures, traders remain cautious, leading to liquidity-driven price swings.
The post Ethereum Price Forecast: Bulls Traders Cluster at $2,100 as US NFP Data Introduces Fresh Risks appeared first on CoinGape.
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