Ether futures positioning tightened near $2,000 as rising open interest and dense short liquidity increased focus on a possible squeeze above $2,150.
Ether (ETH) remains under pressure after failing to reclaim the $2,150 resistance level. Despite the decline, ETH's aggregate open interest has increased by roughly 350,000 ETH, suggesting new short positions are entering the market.
With more than $1.5 billion in bearish positions clustered above $2,150, a successful defense of the $2,000 support zone could trigger a sharp short squeeze and a relief rally for ETH.
ETH has failed to reclaim $2,150 after dropping below it on May 17. The resistance capped the price from February to April, limiting a strong breakout.
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