Analysts: Ethereum buying is returning; holding the $2,000 support level is key to reversing the market structure.

According to a report by Cointelegraph on April 8th, as reported by Mars Finance, on-chain data and derivatives market indicators show that buying power is returning to Ethereum, but analysts warn that bulls must hold the $2,000 support level. CryptoQuant data shows that Ethereum's net buy volume has been positive since March 6th, climbing to $140 million on March 16th and currently remaining at $104 million. Net buy volume is an indicator of the imbalance between aggressive buyers and sellers in the derivatives market. CryptoQuant analyst Darkfost stated, "This is the first time we've observed such a shift in the mechanism in the Ethereum derivatives market since the last bear market." He added that if this trend continues, and the spot market and ETFs begin to follow suit, Ethereum is expected to resume its upward trend. Regarding futures open interest, current open interest stands at 6.4 million ETH, approaching the all-time high of 7.8 million ETH reached in July 2025, and has gradually recovered from the low of 5 million ETH in October last year. Spot Ethereum ETF inflows also turned positive on Monday, with a net inflow of $120 million, the highest single-day net inflow since mid-March. In terms of price, analyst Ted Pillows stated, "As long as the $2,000 support level holds, Ethereum is expected to rally again; once it breaks below that level, a new low for the year may follow." Glassnode cost basis distribution data shows that the cost basis of over 3.5 million ETH is concentrated around $2,000; if this area is broken, the next secondary support is $1,750 to $1,800, a range where approximately 1.36 million ETH have been established. If the price falls further below the aforementioned support, the measured target of the symmetrical triangle points to $1460, approximately 30% lower than the current price.