- The Ethereum price tested the $2,140 level for a bullish spot before it could challenge the long-awaited resistance trendline at $2,300.
- The 100-day exponential moving average stands as a mid-term resistance trendline.
- Altcoins continue to underperform relative to Bitcoin’s market strength.
Ethereum, the second largest cryptocurrency by market capitalization, is up 0.68% on March 21st to trade at $2,160. The short uptick came as a broader market relief rally after the mid-week sell-off due to high U.S. inflation data and geopolitical tensions. However, the on-chain data show that altcoin trading volumes on Binance and other major exchanges have witnessed a notable decline in recent months, suggesting a historical signal of an upcoming recovery trend.
Exchange Altcoin Volume Drops Sharply Amid Market Slowdown
CryptoQuant analyst Darkfost recently shared his observation on altcoin trading activity on some major centralized exchanges, highlighting concern about diminishing investor interest in alternative cryptocurrencies. As of mid March 2026, altcoin volume on Binance wavers around $7.7 billion, while other major exchanges collectively account for roughly $18.8 billion in volume.
These numbers are a dramatic decline from previous highs. During peak periods in October 2025 and February 2025, Binance processed $40-$50 billion in altcoin trades every day, and combined volumes on competing exchanges were $63 billion to $91 billion. The current totals represent a near contraction of 80-85% on Binance alone since these months.
The Ethereum price fall is in line with the ongoing bearish phase of the overall market, in which altcoins have lagged far behind Bitcoin. Persistent geopolitical risks as well as a lowered appetite for risk-taking have led to capital entering safer assets, suppressing altcoin pair participation even further.
Despite the overall slowdown, Binance receives about 40% of remaining altcoin spot flows – suggesting a consolidation of activity on the dominant platform.
It is worth noting that these volumes spiked significantly during February and October 2025, which coincided with local market tops. While these phases triggered a FOMO event among retailers, the well-positioned investors used them as exit liquidity.
The current scenario contrasts with that mentioned above, as historically, the most attractive opportunities tend to emerge when market interest is at its lowest.
Ethereum Price Test Key Support Level Before Next Leap
On March 15th, the Ethereum price gave a bullish breakout from the $2,140 resistance amid the easing geopolitical tension in the Middle East. This breakout signals ETH’s exit from a five-week-long consolidation trend, bolstering the price potential for renewed recovery.
However, with the recent market correction, the Ethereum price is retesting the breach trendline as potential support. If the buyers manage to hold this line, the price of ETH could jump 10% higher to challenge the key resistance trendline at $2,300.
Our Ethereum prediction suggests a bullish breakout from this resistance would strengthen the buyer’s grip over this asset and drive a higher rally towards $2,600, followed by $3,000.
On the contrary, if sellers force a breakdown below the $2,140 support, ETH could experience a surge in selling pressure and plunge to the $1,800 level again.
ETH/USDT -1d chartThe Ethereum price is currently positioned below the daily EMAs (50, 100, and 200), indicating the broader market sentiment supports a bearish narrative.
Source: https://www.cryptonewsz.com/ethereum-price-2300-after-holding-key-support/
