From April 3 to April 5, Ethereum showed a extremely sluggish sideways trend, with its price remaining trapped between $2,030 and $2,060 and trading volume shrinking significantly. On April 8, news of a geopolitical ceasefire prompted a sharp rise in price—within just four hours, it soared from around $2,100 to $2,280. However, this upward movement came to an end the next day, as the price dropped back to $2,163, accompanied by another three days of declining trading volume.

According to Monitored by Woofun AI, this rapid correction revealed the core issue of a lack of substantial buying support in the market. On-chain data showed that the net inflow of Ethereum onto trading platforms had dropped to 260,000 units, the lowest level since April 2025, indicating extremely low supply pressure. However, this is not necessarily a positive sign for price stability.

The key indicator, the acceptance rate, currently stands at around 0.999. This value has remained below 1 since May 2025, with only a brief exception on April 8. This confirms that price increases are mainly driven by liquidity gaps and passive buying activities, rather than active purchasing momentum. When the price tried to break through the resistance level of $2,175, selling pressure quickly pushed it back into its previous range, consuming existing demand without attracting new funds.

Unless there are further developments in the geopolitical situation, such as the reopening of the Strait of Hormuz, current data does not suggest that the price will be able to hold steady above the $2,163 range. In the coming days, the resilience of the support level between $2,030 and $2,060 will be tested. If passive buyers cannot transform into active purchasers, the price may once again drop and test the lower level of $2,000.