Ethereum Slides Below $2.1K – Coinbase Says L1 Revival Holds the Key!

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<a href="https://jpygbp.com/eth-usd/">Ethereum</a> Price Slips Below $2.1K as Coinbase Flags L1 Revival

Ethereum’s price fell below $2,100 as Coinbase noted increased activity on Layer-1 networks, growth in stablecoins, and a potential support level around $1,700.

Ethereum traded near $1,990 on Saturday after losing a major technical support zone around $2,100. 

Coinbase Institutional reported on X (formerly Twitter) that users are increasingly active on the main Ethereum network and holding more stablecoins there.

The company attributed the change to increasing clarity around stablecoin regulations and growing demand for the fundamental technology behind Ethereum.

Market analyst Daan Crypto Trades also highlighted the $2,100 level as key for where Ethereum’s price might go next. As of today, CoinGecko data shows ETH trading at $1,992.67, which is a 0.92% decrease in the last 24 hours and a 7.47% drop over the past week.

Ethereum L1 Activity Gains Ground Against L2s

Despite recent price drops, Coinbase Institutional notes that the underlying technology of the Ethereum network is actually getting stronger.

The company reports that users are increasingly active on Ethereum again, and more stablecoins are being held directly on Ethereum rather than on layer-2 networks.

Is Ethereum making a comeback?

As rules for stablecoins continue to develop and affect the market, focus is turning to the Ethereum network – the technology that supports them – and how it’s being improved.

Here are the key takeaways:

• Both user activity and stablecoin…

— Coinbase Institutional (@CoinbaseInsto)

This change is noteworthy because the amount of stablecoins and the value of tokenized assets on Ethereum are close to all-time highs. Coinbase also observed that positive trends continue, with more regulated uses for stablecoins emerging.

The company also pointed out that Ethereum’s ability to easily connect with other applications and its efficient processing power are good indicators of genuine user activity on the network.

Coinbase also noted that Ether (ETH) has performed better than all leading Layer 2 tokens since October 2025. This continued strength highlights Ethereum’s importance as the foundation for tokenized financial systems.

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Ethereum OG Dumps 7,302 ETH After 4 Years: $5.3M Profit Revealed

ETH Price Loses Key $2.1K Support Level

Daan Crypto Trades posted a 3-day chart showing Ethereum’s price has fallen below the $2,106-$2,166 range. This range had been a key support and resistance level during the recent period of stable trading.

Lost its main support level again after a failed break above.

Really no interest to me until this retakes $2.1K+ or tests the local lows.

— Daan Crypto Trades (@DaanCrypto)

The price quickly rose back to a previous level, but couldn’t stay there. This failure caused that level to now act as a barrier, preventing further price increases.

Daan believes the market isn’t showing any positive signs until the price of Ethereum (ETH) climbs back above $2,100 or falls to recent lows. The technical analysis suggests a key resistance level around the $2,100 mark, where it previously failed to recover.

While ETH stays below this level, its short-term trend looks uncertain. Sellers are still dominating any attempts at price increases towards resistance.

Ethereum Price Outlook Hinges on $2.1K or $1.7K

The chart suggests two likely scenarios for the price of ETH. If the price closes strongly above $2,100 for three days, it could signal a return to an upward trend.

If buyers can push the price up and hold it at its current level, the next key resistance area to watch is around $2,800. Reaching that price would be a significant upward move from where it is now.

Despite ongoing attempts to push higher, the price continues to pay attention to the support area between $1,720 and $1,750. This zone is where Daan’s analysis shows the most buying or selling activity is likely to occur.

Ethereum is currently stuck in a trading range, bouncing between a strong resistance level above and nearby support below. It’s likely to continue moving sideways with little clear direction until the price decisively breaks through either of these levels.

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2026-03-28 15:55