Ethereum’s Market Order Imbalance Hits Record Negatives: $1,850 Is Now The Line In The Sand
Ethereum is attempting to stabilize around the $2,000 level as the broader crypto market shows tentative signs of relief. After weeks of persistent pressure, price action has paused its decline, but sentiment remains fragile. The recent rebound has helped ease immediate downside momentum, yet the technical structure still reflects a market recovering from significant damage rather than entering a confirmed uptrend. Price is currently trading below the 50-day, 100-day, and 200-day moving averages, all of which are sloping downward. This alignment confirms bearish momentum across short-, medium-, and long-term horizons. Notably, the 50-day average has accelerated lower, reflecting sustained selling pressure rather than a temporary liquidity vacuum.Related Reading
The sharp decline toward the $1,850 zone was accompanied by a significant spike in volume, suggesting forced liquidations and aggressive distribution. Since then, volume has moderated during consolidation, indicating that while panic may have eased, conviction among buyers remains limited.
Technically, $2,000 functions as a psychological pivot rather than confirmed support. A sustained move above the 50-day average would be required to signal improving momentum. Conversely, failure to hold the current range could reopen downside risk toward deeper liquidity pockets.
Featured image from ChatGPT, chart from TradingView.com
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