Ethereum Transfer Surge Mirrors 2018 And 2021 Peaks – What Happens Next?
Ethereum remains under heavy pressure, struggling to hold above the $2,300 level as selling dominates across the broader crypto market. After weeks of weakening structure, price action has failed to attract sustained demand, prompting many analysts to warn that further downside may still lie ahead. With risk appetite fading and leverage being unwound, attention is increasingly shifting from short-term rebounds to signals that could define the next phase of the cycle. From a trend perspective, ETH is trading below its short- and medium-term moving averages. Both of which have rolled over and are beginning to slope downward. This configuration typically reflects a loss of upside momentum and signals that traders sell into rallies rather than accumulate on dips. The long-term moving average near the mid-$2,400s has flattened. This suggests that the market is transitioning from trend to range, with downside risk still present.Related Reading
Elevated volume accompanied the recent sell-off, signaling conviction behind the move rather than a low-liquidity drift. Historically, similar volume spikes during downswings have preceded either deeper drawdowns or prolonged consolidation phases.
ETH has also printed a sequence of lower highs since the peak above $4,800, confirming a broader bearish market structure. Unless price can reclaim and hold above the $2,400–$2,500 region, the path of least resistance remains sideways to lower. With the market likely probing for demand at lower support levels before any sustainable recovery can form.
Featured image from ChatGPT, chart from TradingView.com
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