BEARISH (0.80)CoinTelegraph

Ether Faces Bearish Pressure Amid Network Weakness

🤖This content was generated by TradingMaster AI based on real-time market data. While we strive for accuracy, please verify important financial information from the original source.

Ether (ETH) is experiencing significant bearish pressure, with the cryptocurrency recently testing the $1,800 support level. On-chain data reveals concerning trends, including multi-year lows in network fees and deposits, indicating reduced user activity and network utilization. These fundamental metrics suggest underlying weakness that could persist beyond short-term price fluctuations.

Until derivative market indicators show stabilization, ETH remains vulnerable to further downside. The combination of diminished on-chain activity and unfavorable derivatives positioning creates a challenging environment for price recovery. Market participants should monitor these metrics closely for signs of improvement before expecting a sustainable bullish reversal.

Read full article on CoinTelegraph

Accessibility & Reader Tools