Ethereum Faces Downside Risks to $1,700
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Ethereum is under renewed bearish pressure as on-chain data reveals a concerning rise in exchange supply and waning demand from spot ETFs. Analysts warn that the combination of increasing sell-side liquidity and reduced institutional buying could trigger a 20% decline from current levels, with the next major support target near $1,700. The technical outlook remains fragile, as ETH has failed to hold above key moving averages, and momentum indicators are tilting bearish. Unless buying volume picks up significantly in the coming sessions, the path of least resistance appears lower. Traders should monitor exchange inflows and ETF flow data closely for signs of stabilization.
Read full article on CoinTelegraph
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