Ethereum is testing a key double-top resistance zone near $2,163 after facing two back-to-back rejections at the upper boundary of its rising parallel channel. At the same time, a slight bullish MACD crossover on the 4-hour chart raises uncertainty over whether buyers can push through resistance or if the pattern will break lower toward $1,980.
Summary
Ethereum is currently trading at $2,051.80, remaining within a rising parallel channel visible on both the daily and 4-hour timeframes. Price has been rejected twice from the $2,163–$2,166 resistance zone, reinforcing it as a strong ceiling.
On the 4-hour chart, the MACD histogram has turned positive to 1.19, indicating a bullish crossover. Meanwhile, the daily Supertrend indicator, positioned at $1,980.92, remains in bullish territory, suggesting the broader trend is still intact.
A confirmed daily close above $2,166 would likely trigger a move toward $2,250–$2,300. Conversely, a breakdown below the $2,024 Supertrend support could lead to a decline toward $1,980 and possibly $1,900.
Ethereum continues to trade at $2,051.80 as of April 3, 2026, holding within a rising channel that has been in place since the February lows. The formation of two rejection candles at the $2,163–$2,166 range on both daily and 4-hour charts has created a clear double-top pattern at the upper boundary.
With around $6.3 billion in Ethereum options expiring and CME futures markets closed for Good Friday, liquidity is thinner than usual—raising the likelihood of sharper price swings over the weekend.
Rising Channel and Double-Top Formation
On the 4-hour timeframe, Ethereum is fluctuating between support near $2,024 and resistance around $2,163. The 4H Supertrend at $2,024.73 remains bullish, indicating that the short-term trend has not yet shifted.
More importantly, the MACD histogram has moved into positive territory at 1.19, with the MACD line crossing above the signal line. While modest, this marks the first bullish crossover since mid-March and suggests improving momentum.
On the daily chart, however, signals remain more cautious. The MACD histogram is still negative at -7.33, and the MACD line continues to sit below the signal line. Despite this, the daily Supertrend at $1,980.92 remains bullish, meaning the overall trend structure has yet to break.
The double-top resistance between $2,163 and $2,166 is clearly defined. A daily close above this zone would invalidate the bearish pattern and confirm continuation toward the upper boundary of the rising channel.
Key Levels, Targets, and Invalidation
Support levels are seen at $2,024 (4H Supertrend) and $1,980 (daily Supertrend). A daily close below $1,980 would turn the broader trend bearish and break the rising channel, potentially sending price toward $1,900.
On the upside, immediate resistance lies near $2,069, followed by the key double-top zone at $2,163–$2,166. A decisive breakout above this area could push price toward $2,250 initially, with $2,300–$2,400 as the extended bullish target.
The bullish scenario is invalidated if price closes below $2,024 on the 4-hour chart, while the bearish double-top setup is negated by a daily close above $2,200.
Options Expiry and Market Context
Roughly $6.3 billion worth of Ethereum options expired on April 3, according to Deribit data, with price hovering near the “max pain” level—suggesting limited directional impact from the event.
Recent downside pressure saw Ethereum drop 3.4% toward the $2,000 level amid broader market weakness. Despite this, the 4H Supertrend held firm at $2,024, indicating strong buyer support at that level.
If Ethereum maintains support above $2,024 and the 4H MACD remains positive, it could signal a shift in short-term momentum in favor of buyers. However, a break below this level would likely confirm the double-top breakdown and shift focus toward $1,900.
