Ethereum’s price is nearing a critical zone due to a lack of momentum and high leverage. The short-term movement in the market has been shaped by heavy flow from sell-side.
You can read more about it here:
- Ethereum nears $2,006 as RSI is weakening and the price struggles around key supports.
- CryptoQuant’s data shows that Binance opened interest increased by 336,000 ETH, while taker sales hit $744 million.
- As weak momentum collides with leverage, analysts remain divided.
Crypto.news is a price tracking service. showed ETH is nearing $2,006 after recent declines.
Ethereum Price remains Under Pressure Near $2,000
Ethereum’s setup is fragile in the short term as long as it stays near $2,000 per coin. The token’s strength has been weakened by recent losses, and buyers are yet to push ETH over the upper range.
Ethereum ranged between $1972.57 and $2,000.00. It is important that ETH remains close to a strong support zone, which many traders have been watching.
The trading volume was close to $13,17 billion while the market capitalization was at around $242. This shows that activity is still active but does not indicate a complete recovery.
It is important to note that ETH still hasn’t regained the zone of $2,200. If ETH were to move above this area, it would indicate a better level of demand. Breaking below $2,000 may keep the sellers in charge.
CryptoQuant analyst split on ETH directions
Pelinay, CryptoQuant Analyst said Ethereum’s current market structure is still weak. Analysts pointed out lower highs and falling volumes since mid-May. They also noted an estimated leverage ratio of 0.74.
Analysts said that the analyst’s setup showed that leverage remains high, while prices continue to trend lower. The market is more vulnerable to sudden movements when the demand remains low.
PelinayPA noted as well that funding rates are mostly positive. This means that long positions continue to dominate the market. The price, however, has not responded with force.
Analysts said that this is a warning sign because the bullish position hasn’t produced an obvious upward move. PelinayPA described this setup as “slightly more vulnerable to downside pressure.”
Amr Taha is another CryptoQuant Analyst. gave A different, but similar view. Binance, he said, added 336,000 ETH to the 30-day open market interest in May 28 while ETH was trading at around $1.990.
Binance has seen its highest reading of positive values on the chart for the first time since May 2019. OKX Bybit Deribit saw new interest as well, increasing the total to 503,800ETH.
Takers of Binance’s open interest are increasing.
This increase in open interest indicates traders’ increased exposure on derivative markets. The increase in open interest across all major venues is worth almost $1 billion.
The move was not accompanied by a clean purchasing pressure. Binance’s cumulative net takers volume dropped to a little over $744million. This was the most negative result since April 6,
It means that aggressive sellers continued to be active even as leverage was increased. This can be a dangerous setup, as new positions could quickly unwind if the price changes against them.
Taha confirmed that open interest spikes with sharp increases can produce mixed results. They can be a precursor to liquidations in some instances. Other times, they can be the fuel that drives a recovery or a squeeze.
Binance built up an open interest on 2025 June before ETH rose above $4600. Still, this current set-up also features heavy takers selling which can make the market more unstable.
It is important to determine whether the new leverage comes from shorts, or longs. If the shorts are dominant and prices rebound, ETH may be squeezed. Longs could be liquidated if they remain overcrowded.
RSI and MACD indicate weak ETH movement
Technical indicators continue to be weak. The RSI currently stands at 30.87 while the moving average of its RSI hovers around 35.28. This puts ETH in the oversold zone.
RSI stays below the neutral 50-level. It shows the buyers are still in control. It would be a good sign if the RSI moved above its average.
MACD is also bearish. The MACD line, at -65.71, is located below the signal line of -51.94. Histogram at -13.77 is negative, showing downward pressure.
The histogram, however, is not growing rapidly. This means that the selling pressure is still present but not increasing.
As before reported According to crypto.news Ethereum has recently fallen below the $2,000 mark, and withdrawals on exchanges have dropped to their lowest point since June 20, 2024. This added to the concerns over weaker accumulation.
In the same report, it was noted that RSI had reached oversold values. The report also stated that ETH must hold $1,950 to 1,970 to prevent further pressure.
Standard Chartered offered A separate article will provide a positive view of the long term. The bank maintained their $4,000 ETH end-2026 target as well as $40,000 for 2030, citing Ethereum’s network usage in stablecoins.
Currently, short-term prospects are mixed. Ethereum’s momentum is weak and there is a lot of pressure on the sellers, but it could be volatile in any direction due to its leverage.
For ETH’s recovery to occur, it would be necessary for the currency to reclaim $2200 with stronger purchasing. For traders, $2,000 is the key level to watch until the next movement.
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Source: crypto.news
