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>>Ethereum’s market trend remains bearish as on‑chain metrics signal capitulation

Ethereum’s market trend remains bearish as on‑chain metrics signal capitulation

crypthub

about 10 hours ago

Market Shift

Ethereum slipped below the $1,900 support level, prompting a surge of bearish speculation. The broader crypto market has turned sharply down, reinforcing the negative tone. Investor sentiment is now more cautious, with many viewing the pullback as a warning sign. This move has heightened concerns about Ethereum’s short‑term outlook.

On‑Chain Metrics

Analysis by Joao Wedson highlights rising realized losses and weakening demand across key metrics. Leveraged long positions are increasing while open interest and active addresses decline, suggesting capitulation. Retail investors now dominate the long side, and the liquidation heatmap shows high system leverage. These signals point to a possible base formation that could precede a short‑term accumulation phase.

Technical Outlook

Ethereum’s price has settled near its lower Bollinger Band, tracking Bitcoin’s recent movement. Bulls hope for a flatter 20‑day SMA to use the band as support, while bears look for a decisive lower low. The token trades around $1,826, down about 3% in 24 hours. Despite the dip, trading volume surged over 29%, indicating renewed activity.