#ETH has continued to weaken recently. The daily chart shows that the price has fallen below the rising trendline around $2,350 that had held for several months, suggesting that the support behind the previous rally is starting to fail and that the short-term outlook has weakened.
$2,350 is a key level to watch next. If ETH fails to reclaim this level for an extended period, it would suggest that buying pressure is insufficient, sellers may remain in control, and the price faces a risk of further declines.
Conversely, if ETH can climb back above $2,350 and continue to receive support from spot buying, it would suggest that bulls are trying to regain control of the market, potentially easing the current bearish signals.
In addition, the short positions held by large investors disclosed in the market have heightened investor caution. However, short positions do not necessarily mean that prices will continue to fall; the outlook will still need to be assessed based on actual buying and selling pressure.
$2,350 is a key level to watch next. If ETH fails to reclaim this level for an extended period, it would suggest that buying pressure is insufficient, sellers may remain in control, and the price faces a risk of further declines.
Conversely, if ETH can climb back above $2,350 and continue to receive support from spot buying, it would suggest that bulls are trying to regain control of the market, potentially easing the current bearish signals.
In addition, the short positions held by large investors disclosed in the market have heightened investor caution. However, short positions do not necessarily mean that prices will continue to fall; the outlook will still need to be assessed based on actual buying and selling pressure.
