Ethereum at $2,100: Analysts Eye Rebound or Drop to $1,350

Ethereum traded around $2,125 after a recent technical breakdown, and analysts disagree on whether the market will recover or fall further. One camp sees the current range as a buying opportunity; another warns that a failure to reclaim $2,100 could lead to a deeper pullback.

Michaël van de Poppe outlined three reasons to build positions in the $2,100 area. He pointed to signs that government bond yields have peaked in several countries, which could reduce the appeal of risk-free returns versus crypto. He also highlighted an expected Senate vote on the CLARITY Act in June, which market participants expect could reduce regulatory uncertainty for Ethereum. On technicals, van de Poppe noted the ETH/BTC pair failed to clear 0.0325 and is leaning toward support near 0.026, with the daily RSI in oversold territory. Van de Poppe wrote, “I’m not saying this will cause a massive run out of nowhere; I’m just saying this is the actual range where you’d be looking for positions.”

CryptoQuant presented a contrasting view focused on chart structure. Analyst PelinayPA warned that the triangle Ethereum recently lost remains broken and that selling pressure could accelerate if the market does not retake that formation. PelinayPA wrote that a sustained failure to reclaim the $2,100 area could leave a deeper pullback on the table, with price potentially targeting $1,350.

On-chain data add context to both scenarios. DeFi total value locked has declined, holder activity has softened, and overall network activity has eased. Recent exploits in Ethereum-based protocols have also reduced short-term sentiment.

Traders and analysts identified the $2,100 area as the immediate focal point. A decisive hold above that level could open a pathway toward a bounce near $2,500, while a clear loss of the zone would increase the probability of the deeper decline outlined by CryptoQuant.

Technical indicators present mixed signals. The ETH/BTC daily RSI sits in oversold territory, which supports a mean-reversion case, while the broken price structure and recent liquidation spikes point to ongoing weakness in price mechanics.

Market participants said they will watch whether global government yields begin to roll over and whether the CLARITY Act vote proceeds as expected, both factors that could affect risk appetite. Traders emphasized disciplined position sizing and clear invalidation points given the divergent risks and the potential for sharper moves in the coming weeks.