BlockBeats news, on April 8, according to Cointelegraph, on-chain data and derivatives market indicators show that Ethereum buying pressure is returning, but analysts warn that bulls must hold the $2,000 support level. CryptoQuant data shows that Ethereum’s net aggressive buy volume has remained positive since March 6, peaking at $140 million on March 16 and currently holding at $104 million. Net aggressive buy volume is a metric that measures the imbalance between aggressive buyers and sellers in the derivatives market.
CryptoQuant analyst Darkfost said: “This is the first time since the last bear market that we’ve observed such a shift in the Ethereum derivatives market.” He added that if this trend continues and the spot market and ETFs begin to follow suit, Ethereum could restart its upward trend. Regarding open interest in futures, current holdings stand at 6.4 million ETH, nearing the historical high of 7.8 million ETH set in July 2025, and have gradually recovered from the October low of 5 million ETH. Spot Ethereum ETF fund flows also turned positive on Monday, with a net inflow of $120 million—the highest single-day net inflow since mid-March.
On the price front, analyst Ted Pillows stated: “As long as the $2,000 support holds, Ethereum is poised for another upward move; a break below this level could trigger a new yearly low.” Glassnode’s cost basis distribution data shows that over 3.5 million ETH are held at a cost basis near $2,000; if this level is breached, the next support zone lies between $1,750 and $1,800, where approximately 1.36 million ETH were accumulated. Should price further decline below these supports, the measured target of the symmetrical triangle pattern points to $1,460—roughly 30% below current levels.