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Ethereum Foundation optimism fails to lift ethereum as technical pressure sends price down 2 percent
Ethereum (ETH) trades at $1,710.57, down sharply from the previous close, marking a significant decline both in absolute and percentage terms. Intraday, ETH has dropped further from the open, retreating near today’s low and recording a steep percentage loss, with selling pressure dominating throughout the session. The drop is primarily driven by strong technical resistance below all key moving averages and ongoing bearish momentum, while positive sentiment from recent ecosystem upgrades has not been enough to overcome the prevailing downtrend.
ETH price prediction
Current price:
$ 1711.66
-43.47
2.48%
Real-time Data
02:13
Daily range
1706.22
1719.32
1719.32
Weekly range
1654.90
1849.54
1849.54
Loading...
Highlights
- Ethereum remains under heavy selling pressure, trading below key short-, medium-, and long-term moving averages.
- Momentum indicators confirm a bearish bias, with weak trend signals and persistent downward volatility dominating price action.
- Expected range for the coming week is $1,600 to $1,750, with a high probability of continued downside and limited upside potential.
Positive sentiment from recent upgrades muted by sustained selling pressure
The Ethereum Foundation highlighted extensive ecosystem achievements and upgrades over the past month, noting initiatives like quadratic funding for security projects and sustained developer activity. This tweet is intended to reinforce confidence in Ethereum’s ongoing growth and technological advancement, supporting demand and positive sentiment for the asset. However, despite the constructive outlook from the influencer, the market is currently weighing persistent technical weakness and strong selling pressure more heavily. Meanwhile, the upcoming Glamsterdam upgrade, network efficiency improvements, record user and transaction counts, and increased institutional accumulation all underscore fundamental strength in the Ethereum ecosystem.
Ethereum’s downside bias confirmed as mixed signals limit recovery
ETH remains well below all major moving averages (MA-20, MA-50, MA-200), confirming broad selling pressure. The closest resistance is at $1,827.82, while key support lies at $1,600. MACD signals a bearish trend and intraday momentum confirms weakness. The five-day forecast expects ETH to trade between $1,600 and $1,750, with further downside favored; the tweet's fundamental optimism has not been validated by price action, adding caution to the short-term outlook.
Previously it was reported that Ethereum continued to face bearish technical pressures despite some positive ecosystem developments and renewed institutional interest. In light of the current market dynamics, traders should monitor for a decisive break above immediate resistance as a potential signal for renewed momentum.
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
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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