Ethereum (ETH) Price Could Be Poised to Rise Towards $2,000 as On-Chain Data Signals Buying Pressure

Ethereum's price has been going up due to the rising buying pressure following overall market recovery. The easing of tensions in the China-US trade war has also

The price of Ethereum (ETH) has been on the rise in recent days, as a surge in buying pressure pushed crucial on-chain metrics to higher levels. This move was also supported by the easing of tensions in the China-US trade war, which has put traders in a more positive mood for investing in cryptocurrencies.

As a result, activity in the decentralized finance (DeFi) space, where Ethereum is the dominant network, has increased, with more traders entering the market to capitalize on the increased liquidity and new protocols being deployed.

This increased activity in the DeFi space could play a role in helping Ethereum reach the next key resistance level at $2,000.

Ethereum Netflow Turns Negative As ETH ETFs See Strong Flows

The price of Ethereum has been encountering increasing volatility from both buyers and sellers over the last 24 hours. As a result, the liquidation volume has been escalating amid a decline in open interest.

Data from Coinglass reveals that Ethereum experienced a total liquidation of approximately $26.7 million in the past 24 hours. Of this sum, buyers liquidated $10.6 million, and sellers closed $16.1 million in short positions.

Credit: Coinglass

Furthermore, Ethereum exchange-traded funds (ETFs) observed an inflow of $64 million on April 28, according to the latest data from the U.S. Securities and Exchange Commission (SEC). This follows a substantial net inflow of $151.7 million into the ETFs during the week ending April 25, the highest weekly inflow since February 2025.

In other developments, the netflow of ETH has turned negative, according to blockchain analytics firm IntoTheBlock. As of Monday morning, the metric stands at 51,590 ETH. A negative netflow indicates that more ETH is leaving exchanges than flowing into them.

Typically, when investors withdraw their coins from exchanges to store them in hardware wallets or other secure locations, it signals their intent to hold onto the asset for the long term, reducing the potential for selling pressure.

Ethereum’s DeFi Activity Surges As TVL Remains Above $51 Billion

In the realm of decentralized finance (DeFi), Ethereum continues to reign supreme. Latest figures from DeFiLlama show that the network’s total value locked (TVL) has climbed to over $51.7 billion, a 15.5% uptick from the previous week.

Moreover, Ethereum’s activity on decentralized exchanges has surged, with daily trading volumes increasing by more than 30% over the last seven days to reach $1.65 billion. This sharp rise in both DEX and on-chain activity underscores the strong momentum behind Ethereum.

As the second-largest cryptocurrency by market cap, Ether is showing signs of strength as it closed above its 50-day moving average with surging buying demand.

However, buyers are struggling to push the price above the $1,900 zone as sellers' pressure intensifies. At the time of writing, ETH price trades at $1,826, surging over 1.4% in the last 24 hours.

The key level to watch on the downside is the 20-day moving average ($1,802). If the price bounces strongly from there, buyers will likely try to push ETH/USDT back up toward $1,950— the zone where the earlier drop started.

But sellers will probably put up a tough fight because if the price breaks above that level, it could quickly rally up to $2,100. A strong buying demand might even send the price above $2.5K.

On the flip side, if Ether falls below the 20-day moving average and closes there, it would show that sellers are still in control. In that case, the ETH/USDT pair could drop further, all the way down to $1,560.