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CryptoUpdated×3•Originally published 17 April 2026•Updated 18 April 2026•

1 min read

Ethereum Rallies 7% as Stablecoin Supply Hits Record $180 Billion

Digital illustration of cryptocurrency market downturn with a large Ethereum coin, Bitcoin and Solana logos, multiple charts showing losses, a red downward arrow, and scattered crypto coins.

Key Facts

1Ethereum price dropped to the $2,300 region after failing to sustain the $2,400 level.

2Ethereum faces technical resistance between $2,324 and $2,436, aligning with the cost basis of whale cohorts holding 1K-100K ETH.

about 2 months ago

Version History

Version 3about 2 months ago

What changed: Updated the story to include specific technical support at $2,295 and resistance at $2,400.

Version 2about 2 months ago

What changed: Updated the story to include a massive whale deposit to Coinbase and growing bearish sentiment among U.S. investors.

Version 1about 2 months ago

What changed: Headline and body updated to reflect the 7% price rally and record-breaking stablecoin supply, shifting the narrative from a bearish correction to a recovery.

Ethereum (ETH) has rallied 7% as the total stablecoin supply reached a historic milestone of $180 billion, injecting fresh liquidity into the market. However, the price is currently testing a critical support level at $2,295 following a massive deposit of 60,001 ETH into Coinbase by a major whale. The asset faces immediate technical resistance near the $2,400 level, which is currently defining the trading range and challenging the recent recovery. This price action coincides with growing bearish sentiment among U.S. investors, raising concerns about sustained selling pressure. While Bitcoin (BTC) remains steady above $68,000, the market is closely monitoring a CME gap near $67,000. Investors are now focused on whether Ethereum can hold its support or if the influx of exchange liquidity will trigger a retreat.