Heavy liquidations weigh on Ethereum while Charles Hoskinson shares positive ecosystem push

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Ethereum Slides 6.37% Today

Highlights

Ethereum trades at $2,346.88, below key short- and medium-term moving averages, reflecting strong downside pressure.
Momentum indicators on the daily chart confirm a persistent bearish trend with clear dominance by sellers.
The expected trading range for Ethereum is $2,250 to $2,480, with a break below $2,250 targeting $2,141.58 support.

Heavy sell-offs outweigh influencer optimism amid ETF flow reversal

Charles Hoskinson shared that he is working intensely on Midnight, suggesting a significant upcoming development. While positive product news can boost market sentiment and ecosystem growth, the market is currently reacting to heavy sell-offs by major Ethereum holders, large long liquidations, and a recent reversal in ETF flows, prioritizing these as stronger influences on the price. The sudden inflow into U.S. spot Ethereum ETFs after days of outflows and the Ethereum Foundation's staking activity provide some positive signals, but heavy profit-taking and technical headwinds dominate short-term sentiment.

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Bearish signals intensify with ETH below key moving averages

ETH is trading below both the MA-20 at $2,614.21 and MA-50 at $2,556.58, but remains above the MA-200 at $2,141.58. Key support sits near $2,141.58 with resistance at $2,480. Momentum signals are bearish, led by MACD and RSI readings. The 5-day expected trading range is $2,250 to $2,480, and the positive tone from the influencer has not been confirmed by price action, adding caution to the near-term outlook.

Jainam Mehta, market strategist, notes that while Charles Hoskinson’s announcement about progress on Midnight is notable, current Ethereum price dynamics offer little room for optimism in the short term. Mehta views macro headwinds, along with sharp technical declines and persistent liquidations, as far more decisive for ETH’s trend than any positive ecosystem news. "Traders should remain defensive and avoid being distracted by development headlines until we see clear stabilization above major support levels," he advises.

Earlier, analysts noted that Ethereum was in a consolidative phase following sustained outflows and heightened volatility, with no clear directional bias emerging. Building on that backdrop, traders should remain alert for any decisive breakouts, as the current trend could quickly shift if key technical thresholds are breached.

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

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