ETH bounces off $1.8K as multiple Ether price metrics point to prolonged weakness

💡 DMK Insight

Ethereum’s bearish trend is more than just a number—it’s a sign of deeper market sentiment shifts. With onchain fees and network deposits at multiyear lows, traders should be cautious. This indicates a lack of activity and interest, which could lead to further price declines. If derivatives metrics don’t stabilize soon, ETH’s current price around $1,850.65 could face significant downward pressure. Look for key support levels; if ETH breaks below $1,800, it could trigger more selling. On the flip side, if we see a sudden uptick in network activity or derivatives trading volume, that could signal a potential reversal. Keep an eye on these metrics in the coming days, as they could dictate short-term trading strategies. For now, watch for any signs of stabilization in derivatives metrics or a bounce off key support levels. The next few days will be crucial for determining ETH’s trajectory.