Ethereum Price Under Pressure as Market Sentiment Turns Bearish
- Deteriorating Technical Structure: Ethereum's price fell to around $2,120 on Tuesday, breaking below the lower boundary of a bullish ascending channel, indicating weakening buyer momentum and the potential for a deeper correction phase, which negatively impacts investor confidence.
- Increased ETF Outflows: U.S.-listed Ethereum ETFs recorded over $148 million in net outflows this week, with cumulative withdrawals exceeding $255 million, significantly reducing market liquidity and reflecting a cautious stance from institutional investors towards risk assets.
- Decline in Whale Activity: Recent data shows that approximately 60 whale addresses holding 10,000 ETH or more have completely emptied or consolidated their balances over the past two months, signaling institutional profit-taking and declining mid-term confidence, which could lead to further market downturns.
- Rising Liquidity Risk: As Ethereum's market dominance slips, participation in derivatives markets has weakened significantly, with an unstable leverage structure leading to over $600 million in liquidated long positions, increasing the risk of market volatility.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 4 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1811.105 | 1944.167 | 2057.235 | 2190.297 | 2303.365 | 2436.427 | 2549.495 |
| Fibonacci | 1944.167 | 2038.189 | 2096.276 | 2190.297 | 2284.319 | 2342.406 | 2436.427 |
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