Ethereum Price Prediction: Bears Tighten Control as ETH Risks Breakdown Below $2,120
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Ethereum (ETH) remains bearish after rejection near the $2,140 resistance and EMA cluster around the 0.618 Fibonacci level, indicating weakening momentum and risk of a breakdown below $2,120. Crypto spot and derivatives metrics show open interest stabilizing at $31–35B as traders cut leverage, while persistent spot outflows near $35M are maintaining short-term selling pressure on ETH and weighing on token performance and DeFi sentiment.
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- ETH remains bearish after rejection near $2,140 and EMA cluster resistance zone
- Open interest stabilizes near $31–35B as traders reduce leverage exposure levels
- Persistent spot outflows near $35M keep ETH under short-term selling pressure.
Ethereum faced renewed selling pressure after bulls failed to reclaim critical resistance near the $2,140 region. The latest 15-minute chart structure shows weakening momentum as traders reduce risk exposure during continued market uncertainty. Besides, Ethereum’s derivatives and spot market activity both reflect cautious sentiment, adding pressure to short-term price action.
Ethereum Struggles Below Key Resistance Levels
Ethereum attempted a recovery toward the $2,142 resistance zone after bouncing from recent lows. However, sellers quickly regained control and rejected the move near the 0.618 Fibonacci retracement level.…
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