Ethereum Holders Shift To Self-Custody As Market Consolidates Near $2K
Ethereum is struggling to hold the $2,000 level as persistent selling pressure continues to weigh on the broader crypto market. Price action remains fragile, with volatility elevated and investor sentiment cautious following weeks of downside momentum across major digital assets. While the macro backdrop remains uncertain, recent on-chain data suggests that market positioning may be evolving beneath the surface rather than simply deteriorating. Volume expansion during the latest drop suggests forced selling rather than gradual distribution. This type of spike often reflects liquidation cascades, risk reduction from leveraged positions, or systematic portfolio rebalancing. However, elevated volume alone does not confirm a bottom; it only signals heightened market stress.Related Reading
From a trend perspective, Ethereum remains below all key moving averages, which are now sloping downward. This configuration typically indicates continuation risk unless price quickly reclaims the $2,400–$2,600 region. Failure to do so increases the probability of a deeper retracement toward the $1,600–$1,800 range, where previous accumulation occurred.
Ethereum appears to be transitioning from corrective weakness into a structurally fragile phase, with market participants closely watching whether the $2,000 level holds or becomes resistance.
Featured image from ChatGPT, chart from TradingView.com
About Author
