Will Ethereum price fall under $2,000 as whales exit and bullish channel support breaks?
Ethereum price has formed an ascending parallel channel on the daily chart — May 20 | Source: crypto.news The breakdown becomes especially important because Ethereum had already failed multiple times to reclaim the $2,300 resistance region before losing channel support. That repeated rejection reinforced the broader lower-high structure that has dominated Ethereums trend throughout recent months. CoinGlass liquidation heatmap data additionally shows dense leverage clusters sitting near both the $2,150 resistance area and the lower $2,050–$2,000 support region. Those liquidity pockets remain important because heavily leveraged positions frequently attract short-term volatility due to concentrated stop-loss orders and forced liquidation triggers. If Ethereum successfully reclaims the $2,150 region, short liquidations could potentially fuel a temporary relief rally toward higher liquidity zones. However, the downside liquidity structure currently appears more vulnerable. A decisive breakdown below $2,050 could trigger a fresh wave of forced long liquidations as overleveraged traders begin exiting positions simultaneously. That dynamic becomes particularly dangerous in crypto markets because perpetual futures traders often use significantly higher leverage compared to traditional financial markets. If liquidation pressure accelerates below $2,000, Ethereum could rapidly revisit lower support zones near $1,850 or even the broader structural support region around $1,700. The psychological significance of the $2,000 level further increases the probability of heightened
