Ethereum, even if it holds $2,000, 'unstable'...Is it a real rebound or a trap?

▲ Ethereum (ETH)

Ethereum (ETH) barely held the $2,000 mark and showed signs of a rebound, but its failure to break past the $2,033.28 high reveals that short-term buying pressure has not yet firmly taken control.

According to CoinMarketCap's real-time chart on June 1, Ethereum traded at $2,001.21, rising 1.34% in the last 24 hours. The price moved between a 24-hour low of $1,990.06 and a high of $2,033.28, indicating an ongoing tug-of-war between buying and selling pressure around the $2,000 mark.

Market capitalization increased by 1.41% to $241.46 billion, and 24-hour trading volume surged by 39.32% to $10.47 billion. The significantly larger increase in trading volume compared to the price increase signals renewed market participation, but the price's failure to strongly surpass $2,033.28 suggests it's too early to confirm a trend reversal.

The short-term key point to watch is whether the $2,000 level can be defended. If Ethereum holds above $2,000 without re-breaking the $1,990.06 low, attempts to re-break $2,033.28 could follow. Conversely, if it drops below $1,990.06, it would be interpreted as a failed recovery of the $2,000 level, potentially weakening short-term investor sentiment again.

The Fully Diluted Valuation (FDV) was $241.46 billion, matching the market capitalization, and both total supply and circulating supply were recorded at 120.68 million ETH. The market capitalization to 24-hour trading volume ratio was 4.33%. Although price fluctuations were limited, the accompanying increase in trading volume suggests that the struggle around the $2,000 mark is a meaningful short-term supply-demand conflict rather than simple consolidation.

However, the distance from its long-term high remains significant. Ethereum's all-time high was $4,953.73, recorded on August 24, 2025, and the current price is 59.61% lower than that peak. In the short term, breaking $2,033.28 is the first hurdle for a sustained rebound, while a failure to defend $1,990.06 could signal a weakening of expectations for $2,000 support.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*