Ethereum price dips about 1–2% near $1.95k, nearing a 7‑month losing streak as whales trim holdings on macro pressure.
Summary
- ETH trades around $1.94k–$1.97k today, down roughly 1–2% in 24h, with 24h volume near $21–23b and a 24h range around $1.94k–$2.06k.
- Coinglass‑based data show ETH has logged six straight monthly declines, its longest losing streak since 2018, and has closed lower in 12 of the past 15 months.
- On‑chain data highlight selling from 100k–1m ETH wallets over 90 days while RSI sits in historically oversold territory and funding plus open interest have normalized, suggesting reduced leverage risk into key support.
Ethereum (ETH) faces a potential seventh consecutive monthly decline, a rare occurrence in cryptocurrency market history, according to market data.
The digital asset has slipped below a key psychological price level, though it briefly recovered above another threshold before showing signs of weakness, market observers reported.
On-chain data indicates that wallet addresses holding between 100,000 and 1,000,000 ETH have reduced their reserves over the past 90 days, according to blockchain analytics. The reduction has occurred outside of exchanges, suggesting strategic position reduction rather than preparation for short-term trading activity.
The cryptocurrency has faced headwinds from macroeconomic conditions, with persistent inflation dampening institutional appetite for risk assets, analysts noted. Ethereum has been among the hardest-hit major cryptocurrencies during this period.
Technical indicators show the daily Relative Strength Index (RSI) in historically oversold territory, a level where relief rallies have previously formed, according to technical analysis data. Funding rates have normalized and open interest has declined, reducing leverage-related risk in the market.
Market analysts identified a nearby support level as a critical threshold for the asset. Should Ethereum hold above this support and reclaim higher price levels, momentum could shift toward previous resistance zones, according to technical analysis.
The correction appears driven by macroeconomic factors rather than deteriorating network fundamentals, market participants stated. The asset approaches what analysts describe as a short-term inflection point as large holders continue to reduce exposure.
Source: https://crypto.news/ethereum-price-prediction-could-it-remain-below-2k-as-whales-cut-holdings-over-90-days/
