Ethereum price prediction: Will technical support hold? ETH extends downside

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Ethereum slides 1.24% today to $2,017

Highlights

The Ethereum Foundation staked 72,000 ETH using DVT-lite to enable institutional staking solutions amid record daily network activity.
Despite historic highs in smart contract calls and token transfers, weekly network fee revenue slid to $2.3 million from $8 million earlier in February, while ETF outflows continued.
ETH trades under medium- and long-term resistance levels, with mostly bearish momentum and an expected 5-day range of $1,850 to $2,200.

Institutional staking expands as network activity hits records, but fee revenue drops

The Ethereum Foundation recently staked 72,000 ETH using a new DVT-lite method designed to facilitate institutional staking. Ethereum network activity reached record highs, with over 40 million smart contract calls per day and new peaks in token transfer volumes; however, weekly fee revenue fell to around $2.3 million from $8 million earlier in February. The protocol’s annual supply growth now stands at 0.23% following EIP-1559 and the Merge, while the market has experienced continued ETF outflows and negative funding rates alongside expectations for upcoming upgrades via the Hegota fork, though price action has remained under broader selling pressure.

Mixed oscillator signals emerge as sellers retain momentum and volatility rises

Momentum signals for ETH remain mostly bearish: the MACD indicates a strong sell and the ADX shows active selling at 31.52. RSI stands neutral at 48.55, and Stoch RSI is also neutral but near higher levels, while CCI is in buy territory, pointing to divergence among oscillators. BBP signals overbought conditions with buyer dominance, yet ETH closed down 1.24%, near the day's intraday low, in a session marked by moderate volatility and prevailing downside pressure, despite mixed short-term momentum.

Sideways consolidation likely as bearish risks outweigh upside potential

Over the next 5 trading days, ETH is expected to fluctuate between $1,850 and $2,200, which reflects a typical volatility band relative to current levels. The likelihood of further price increases is estimated below 20%, with a higher probability of continued declines. The baseline scenario anticipates sideways consolidation, holding near the Ichimoku Kijun short-term support and resistance overhead. A break above $2,200 and the MA-50 could open a bullish path, while reinforcement of bearish momentum may drive prices below $1,850 and deepen losses.

Anton Kharitonov, expert at Traders Union, sees Ethereum under persistent downward pressure despite strong network activity and institutional staking initiatives. He notes technicals remain mostly bearish while negative sentiment is reinforced by ETF outflows and falling fee revenue. Kharitonov is cautious and expects sideways consolidation, with resistance and bearish momentum limits clearly defined. "Base case remains rangebound trading; unless ETH decisively clears $2,200, I consider risks skewed to the downside."

Previously it was reported that Ethereum rebounded above a key psychological level, showing signs of tentative buying interest but remaining below recent highs, with technicals indicating some easing in downward pressure yet no decisive trend reversal. Analysts noted nearby resistance just above, with support at the recent lows, and emphasized that maintaining levels above $2,000 is crucial for sentiment to improve, while persistent ETF outflows and macro factors suggest continued caution.

Source of Data: ETH Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.