Ethereum (ETH) is entering a key micro-support cluster, as of March 14, 2026, between $2,101 and $2,056, defined by the 61.8%, 78.6%, and 88.7% Fibonacci retracement levels.
This zone represents the first defensive area after the recent impulsive rise. Price is currently testing this region after a sharp rejection near the recent local high around the $2,150–$2,160 resistance band, indicating short-term corrective pressure.
According to the crypto analyst More Crypto Online, however, the current pullback appears relatively sharp compared to a typical Elliott Wave wave-2 retracement, which usually unfolds in a more controlled and overlapping structure.
This creates structural uncertainty in the short-term wave count. The market is attempting to stabilize above the 88.7% retracement level near $2,056, while the red horizontal support line, located near $2,030–$2,040, acts as a critical structural
Also Read: Ethereum Adoption Surges as Market Signals Potential Drop Toward $1,500
Structural Support Holds the Bullish Scenario
If sellers push the price below the red support, it would mark the first confirmed structural breakdown and increase the probability of a deeper correction.
In this case, the next levels to focus on are the lower targets: $1,914, which is the 78.6% correction of the larger swing, followed by $1,842, which is the 100% extension.
Additional weakness could carry the price down to $1,765 (123.6% extension) and then to $1,720 (138% extension) to the larger support zone.
On the contrary, if ETH manages to sustain above the present support zone and builds a base, this pattern may continue to follow a bull continuation sequence.
A healthy correction from the micro support zone could pave the way for the ETH price to rise to the $2,320 to $2,400 range, with an impulsive correction possibly reaching the $2,500 to $2,600 zone in the next leg.
Whale Accumulation Draws Market Attention
Adding to the market attention, a crypto whale with the name 0x2d85 has re-entered the market, ending his six-month-long inactivity. This particular wallet had sold Ethereum (ETH) at an all-time high of about $4,300.
Now, the same whale is back in the market, buying 5,003 ETH, equivalent to an amount of approximately $10.9 million, at an average price of $2,179, as per Lookonchain data.
Such high buying activity by whales often indicates that big investors are becoming more confident, and hence, there are high chances that the ETH price will move higher in the coming days.
Why This Matters
The current situation, where Ethereum is still holding within the price zone of $2,030-$2,040, could sustain the current market structure and open the door for the price to move towards the resistance zone of $2,300-$2,600.
The accumulation of large whales after being inactive for months could be an indication of increased investor confidence, which will likely affect the sentiment on Ethereum’s price movement.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: BlackRock’s ETH Staking ETF Posts $15.5M Volume in Nasdaq Debut
