Ethereum continues to trade under heavy pressure as the daily chart reflects a clear bearish trend. Market structure shows consistent lower highs and lower lows, which signals sustained seller dominance. Besides weaker price action, technical indicators and derivatives data also point to reduced confidence among traders.
Technical Structure Signals Ongoing Downside Risk
Price action shows a strong rejection near the 0.5 Fibonacci area around $3,347, which reinforced a macro resistance zone. However, sellers quickly regained control and drove ETH below the $2,512 region, accelerating bearish momentum. The breakdown confirmed trend continuation and pushed price toward the lower range.
Additionally, the Ichimoku cloud remains overhead, highlighting persistent resistance and limiting bullish attempts. Current support sits between $1,960 and $1,900, where buyers have shown early reactions.
