🚨 $ETH USDT Ethereum Market Update — Bears Still in Control
Price Pressure
• ETH ~ $2,851, down ~4% in the last 24 hours and testing a critical support zone.
• The breakdown below $3,000 highlights continued bearish pressure.
📊 Market Overview
• Current Price: ~$2,851 — down 2.46% (24h) and 11.89% (7d)
• 24-Hour Volume: ~$25.9B, showing elevated trading activity.
• Fear & Greed Index: 22 (Fear) — sentiment remains risk-averse.
• Market Cap: ~$341.7B
📉 Technicals — Bearish Momentum Prevails
• Key Support: $2,860–$2,900 — critical short-term level.
• A break below this zone could accelerate downside toward $2,000.
• EMA Structure: 7-hour EMA ($2,860).
• MACD: Bearish through the weekly timeframe, signaling sustained momentum to the downside.
⚠️ Catalysts Driving the Downtrend
• Spot ETF Outflows: U.S. spot Ethereum ETFs have seen net outflows of ~$22.4M, indicating waning short-term institutional demand.
• Liquidations: Over $130M in long perpetual futures were liquidated in one session, further pressuring price action.
• On-Chain Cooling: Weekly active addresses and transaction counts are declining, and a key premium index has turned negative, suggesting rising sell pressure.
📈 Trading Strategy & Risk Analysis
• Crucial Level: $2,860–$2,900 — failure to hold this range would confirm bearish continuation.
• Next Major Target: $2,000, aligned with historical support and on-chain valuation bands like MVRV.
• Risk Management: Traders should use strict stop-losses below $2,800 to protect against high volatility and cascading liquidations.
Summary:
ETH remains under heavy selling pressure with bearish technicals, weakening on-chain activity, and institutional outflows. Breaking below the $2,860–$2,900 support could accelerate the downtrend toward $2,000. Manage risk carefully and consider yield options if holding long-term.
