Ethereum (ETH) is facing significant selling pressure, trading below the $1,900 mark as market uncertainty continues to weigh on price action. After losing the critical $2,000 level, ETH plunged as low as $1,750, marking its lowest point since October 2023. Bulls are now under pressure, as they must defend the current demand zone to prevent further downside and restore investor confidence.

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Market conditions remain fragile, with Ethereum struggling to find strong buying interest. If bulls fail to hold current support levels, ETH could see further declines, adding to the bearish sentiment that has dominated the market in recent weeks.

On-chain data from CryptoQuant reveals that Ethereum’s Net Taker Volume remains at a low level, indicating that selling pressure is still strong. This suggests that market participants are leaning bearish, with more sell orders than buy orders dominating Ethereum’s price action.

With ETH trading in a vulnerable position, the next few days will be crucial. If bulls can stabilize the price and push ETH back above $1,900, a potential recovery could begin. However, if selling pressure persists, Ethereum may continue its downward trend, testing lower support levels in the coming weeks.

Ethereum Faces Heavy Selling Pressure

Ethereum has lost over 57% of its value, creating an extremely difficult environment for bulls as the market remains in a deep downtrend. Currently, ETH is trading below a multi-year support level, which has now turned into a strong resistance zone. As ETH struggles to break back above the $1,900–$2,000 range, the bearish trend continues, with bulls failing to regain momentum.

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The entire crypto market has suffered a breakdown, mirroring weakness in the U.S. stock market, as global trade war fears and growing uncertainty surrounding U.S. President Trump’s policies shake investor confidence. Since the U.S. elections in November 2024, macroeconomic volatility and uncertainty have been the dominant forces in driving markets lower. With no clear resolution in sight, investors remain cautious, as the U.S. stock market has now reached its lowest levels since September 2024.

Top analyst Quinten Francois shared data on X, revealing that Ethereum’s Net Taker Volume is at historic lows, signaling intense selling pressure. This indicates that sellers continue to dominate the market, preventing ETH from staging any meaningful recovery. Until buyers step in with strong demand, ETH may remain stuck in a bearish phase, with further downside risk if key support levels fail.

With Ethereum struggling below critical resistance and selling pressure increasing, the next few weeks will be pivotal in determining whether ETH can stabilize or if the market will see further losses. If bulls cannot reclaim lost ground, Ethereum could face even deeper corrections in the near term.

ETH Stuck In Range As Bulls Fight to Reclaim $2,000

Ethereum is currently trading at $1,880, remaining range-bound between $1,750 and $1,950 since last Monday. This tight trading range has kept ETH in a consolidation phase, with neither bulls nor bears gaining full control over price action.

For Ethereum to start a recovery rally, bulls must push the price back above $2,000 as soon as possible. A break and close above this psychological level would indicate renewed buying momentum, allowing ETH to potentially test higher resistance levels. However, Ethereum remains in a fragile position, as selling pressure continues to weigh on the market.

If ETH fails to hold its current levels and breaks below $1,750, it could result in a steady continuation of the downtrend, with further downside risks emerging. Bears would likely target lower support zones, extending the bearish phase and delaying any chance of a sustained recovery.

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With uncertainty still dominating the market, traders are closely watching whether Ethereum can break out of this range or if it will extend its decline, following the broader market’s risk-off sentiment. The next few trading sessions will be critical for ETH’s short-term direction.

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Ethereum is still under significant bearish pressure, with the possibility that the downward trend might continue in the coming days or weeks as the market struggles to recover. After dropping sharply over the last few days, ETH may have finally reached that crucial moment that could trigger a significant upward surge.

A Strong Rally To New Highs On The Horizon For Ethereum?

During negative market conditions, Ethereum, the second-largest crypto asset, tends to decline along with other major digital assets like Bitcoin and Solana. ETH’s price has now fallen below $2,000 once again, raising uncertainty about a short-term upside breakout and reversal.

However, seasoned market expert and investor Trader Tardigrade points to a bullish development on the ETH’s chart that could lay the groundwork for a rebound and a rally. His prediction suggests that ETH is gearing up for a significant recovery as the altcoin enters a crucial oversold zone.

With Ethereum trending in an oversold zone, this implies that selling pressure may have reached exhaustion, which could pave the way for buying pressure. Once buying pressure returns, a new wave of optimism will be introduced to the market, increasing the likelihood of another rally.

According to the analyst, Ethereum has entered the oversold zone on the Stochastic indicator in a 3-year span. Besides determining overbought and oversold conditions, the key indicator is also used to gauge trend reversals and divergences.

Considering the development, Trader Tardigrade believes that the altcoin may have reached the bottom at the current level. Historically, ETH has seen notable growth from the bottom, as seen in the monthly chart. The chart shows a similar trend in 2019 and 2022, in which each cycle spurred a strong rally.

These past scenarios provide more confirmation of Trader Tardigrade’s upsurge expectation. Should it mirror previous trends, the analyst foresees a move toward new all-time highs, mainly targeting the $11,500 mark. Many crypto experts have predicted that ETH’s path to the $10,000 milestone and beyond is programmed and natural.

ETH’s Upside Momentum Hinges On This Key Area

Ethereum is witnessing another day of bearish movement as its price loses the $1,900 support level. Delving into ETH’s current price action, Ali Martinez, a crypto expert and trader, has predicted the next possible move for the altcoin using the Market Value to Realized Value (MVRV) Pricing Bands.

After examining the MVRV Extreme Deviation Pricing Bands metric, Ali Marinez highlighted that ETH is testing key support levels that are crucial for its next move. If the realized price of $2,060 fails to hold, Martinez noted that the next significant support is located at $1,440, suggesting a potential deeper decline in ETH’s price.

At the time of writing, Ethereum was trading at $1,892, displaying a 0.30% drop in the last 24 hours. With ETH falling below the $1,900 mark, bearish sentiment has risen around the asset, as evidenced by a more than 37% decrease in its daily trading volume.

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Ethereum’s price has been facing significant downward pressure in recent days, with the cryptocurrency even dipping below the $2,000 mark for the first time since December 2023. The crash below $2,000 has done more harm to the already declining bullish sentiment, and the next outlook is whether there will be more incoming declines or whether the leading altcoin is already nearing a bottom. 

Notably, an interesting signal of a probable outcome has been revealed through the Ethereum CME Futures chart, where the monthly Relative Strength Index (RSI) just reached its lowest level on record, surpassing the readings from the 2022 bear market.

Ethereum’s Monthly RSI Drops Below 2022 Levels

Crypto analyst Tony “The Bull” Severino has highlighted a significant development in Ethereum’s technical indicators, pointing out that the cryptocurrency’s monthly Relative Strength Index (RSI) on the CME Futures chart has now fallen to its lowest level on record.

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This decline has pushed the RSI below the 2022 bear market bottom, a period that saw Ethereum reach multi-year lows before eventually staging a recovery. Severino shared this observation in a detailed technical analysis post on social media platform X, using Ethereum’s Futures monthly candlestick timeframe chart. 

The analyst noted that although this drop suggests strong selling momentum, it could also be forming a hidden bullish divergence. This is because the last time Ethereum’s RSI dropped to such extreme lows, it eventually found its footing around $900 and embarked on a price uptrend in the months that followed. This previous performance raises the possibility of Ethereum approaching a bottom, despite its current downward momentum. It is possible that Ethereum has now found a footing around $1,900 and is now gearing up for another uprend in the coming months.

However, Severino remained cautious about the situation, stating that the reading could also mean that the selling pressure is at its strongest and could continue driving Ethereum lower into oversold conditions. Interestingly, he also made it clear that despite the potential for a reversal, he is currently leaning more toward a bearish outlook on Ethereum.

Stochastic Indicator Points To A Deeper Bearish Phase

Beyond the RSI levels, another key indicator that Severino highlighted is Ethereum’s one-month Stochastic oscillator, which has now dropped below the 50 mark. In a previous analysis, he noted that Ethereum’s drop below the 50 mark is characteristic of a bear maket territory. However, it typically does not find a bottom until the Stochastic indicator reaches below 20 and is in extreme oversold conditions.

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As shown by the chart below, past trends indicate that when Ethereum’s Stochastic oscillator enters bear market territory, it often takes months before the asset stabilizes and begins a strong recovery.

At the time of writing, Ethereum is trading at $1,920, having recently reached a low of $1,851 in the past 24 hours.

Featured image from Unsplash, chart from Tradingview.com