📉 Current Situation
ETH has seen a sharp sell-off and is currently trading around $1,900, breaking multiple key support levels. Market structure on both the 4H and daily timeframes remains bearish, with a clear pattern of lower highs and lower lows.
🐋 What Triggered the Move
The latest downside acceleration followed significant whale selling on the Spark platform, where approximately 27,800 ETH were sold near the $2,050 level to repay loans. This added heavy sell pressure to an already fragile market.
The whale still holds roughly 9,810 ETH, with an estimated liquidation level around $1,560, keeping downside risk elevated if price continues lower.
At the same time, broader market sentiment has turned risk-off, with leverage being flushed out and buyers remaining cautious.
📊 Technical Outlook
Major Resistance: $2,120 – $2,800 (previous support, now supply)
Price is currently near a descending trendline with weak local support
Key Downside Support:
$1,800
$1,600 – $1,550
The trend remains bearish unless ETH reclaims and holds above $2,200+
🧠 Trader Positioning
Short-term traders are favoring sell-the-rally setups
Many are staying sidelined, waiting for confirmation near $1,800 or $1,600
Aggressive long positions remain high risk without clear reversal signals
Long-term investors are monitoring lower levels for gradual accumulation, not full-size entries
🔮 Market Outlook
As long as ETH remains below key resistance, continued downside or consolidation is more likely than a strong recovery.
A breakdown toward $1,600 could trigger further liquidations
A sustained reclaim above $2,200–$2,400 would be the first sign of weakening bearish momentum
🧩 Bottom Line
ETH remains firmly in a bearish phase.
Patience is key — protect capital first and trade reactively, not emotionally.
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